MPower’s AA-IS Rating Affirmed by MARC on Its MYR 5.4 Billion Sukuk Murabahah

Malaysian Rating Corporation (MARC) has affirmed Malakoff Power’s (MPower) MYR 5.4 billion Sukuk Murabahah rating at AA-IS, with a stable outlook.

MPower operates and maintains the majority-owned domestic power plants of its parent, Malakoff Corporation (Malakoff).

MARC’s rating affirmation considers the consolidated credit profile of MPower and Malakoff, as well as the concrete Kafalah guarantee provided by Malakoff to the Sukukholders.

The rating reflects the stability of cash flows available from Malakoff’s long-term power purchase agreements with Tenaga Nasional, to meet its Sukuk obligations.

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