MARC affirms DRB-Hicom sukuk, lowers outlook to stable

MARC said the group’s healthy liquidity position would support its near-term financial obligations and funding requirement while a moderate leverage position provides some headroom for borrowings if necessary.

KUALA LUMPUR: Malaysian Rating Corporation (MARC) has affirmed its ratings DRB-Hicom Bhd’s two Sukuk programmes but lowered the outlook to stable from positive due to challenging outlook for the domestic automotive industry.

The rating corporation said on Friday it had affirmed its A+IS and A-IS on the group’s up to RM3.5bil sukuk and perpetual sukuk Musharakah Programme of up to RM2bil.