QSP Semenanjung's Green SRI Sukuk’s Rating Upgraded; Rating Revised to Stable from Positive: MARC

Malaysian Rating Corporation (MARC) has upgraded Quantum Solar Park (Semenanjung) Sdn Bhd (QSP Semenanjung)’s MYR 1.0 billion Green Sustainable and Responsible Investment (SRI) Sukuk rating to AA-IS from A+IS. MARC has revised the rating Outlook to Stable from Positive. In May 2020, MARC had affirmed the A+IS rating of QSP Semenanjung, and had revised the Outlook to Positive from Stable.

Ratings rationale:

QSP Semenanjung’s ratings upgrade reflects the stable operational performance of the three 50 MW solar power plants, as expected by MARC. Since the plants commenced commercial operation 2019, actual energy production has been consistently higher than P90 estimates. QSP Semenanjung's 21-year solar power purchase agreements entered into b...