QSP Semenanjung's Green SRI Sukuk’s Rating Affirmed; Outlook Revised to Positive

Malaysian Rating Corporation (MARC) has affirmed the A+is rating of Quantum Solar Park (Semenanjung) Sdn Bhd's (QSP Semenanjung) Green Sustainable and Responsible Investment (SRI) Sukuk of up to MYR 1.0 billion, while revising the Outlook to Positive from Stable.

In affirming the rating, MARC has considered the reduction of demand risk through the 21-year Power Purchase Agreement (PPA) entered into with Tenaga Nasional Berhad (TNB) by the three project firms, each of which owns a 50MW solar photovoltaic plant. Under these PPAs, TNB is expected to purchase the energy generated by these plants at a fixed rate that is deemed adequate to meet the Sukuk obligations.

Meanwhile, in its Outlook re...