MARC affirms Berjaya Land’s RM650m debt notes, outlook stable

MARC pointed out BLand has been affected by the impact of the Covid-19 pandemic that resulted in the temporary business closure of its principal gaming subsidiary, Berjaya Sports Toto Bhd (BToto).

KUALA LUMPUR: Malaysian Rating Corporation Bhd (MARC) affirmed its ratings on Berjaya Land Bhd’s (BLand) two tranches of debt notes totalling RM650mil with a stable outlook.

The rating agency had on Monday affirmed BLand’s RM500mil medium-term notes (MTN) programme guaranteed by Danajamin Nasional Bhd at AAA(fg) and RM150mil MTN programme guaranteed by OCBC Bank (Malaysia) Bhd at AAA(bg).