KUALA LUMPUR: Malaysian Rating Corp Bhd (MARC) has been named the winner of Malaysia’s 2016 Project Finance Rating Agency of the Year at The Asset’s Triple A Rating Agency of the Year Awards ceremony held in Hong Kong.
The Asset, a Hong Kong-based magazine covering Asia’s financial industry, annually recognises the region’s significant capital market intermediaries and transactions.
This marks the second year in a row that MARC has earned this industry distinction.
“We are honoured that The Asset has recognised MARC for the second year in a row as a key player in rating project finance transactions,” MARC chief rating officer Rajaseharan Paramesran said in a statement.
“This accolade serves as a valuable endorsement of our ratings as benchmarks for assessing the credit quality of project financings. It also signifies that our commitment to remain a valued capital market intermediary has been acknowledged,” Rajaseharan added.
Among the noteworthy project financings rated by MARC in recent years are Lebuhraya Duke Fasa 3’s RM3.64bil sukuk in 2016, Jimah East Power’s RM10bil sukuk in 2015, Malakoff Power’s combined RM11.3bil sukuk issuances in 2013, Tenaga Nasional independent power units’ combined RM5.63bil sukuk issuances in 2013 and the landmark PLUS’ RM23.35bil sukuk in 2012.
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