MARC Ratings has assigned a final rating of AAAIS to TNB Power Generation Sdn Bhd’s (TPGSB) sukuk programme of up to RM10.0 billion. The rating carries at stable outlook.
The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the preliminary rating was based.
For full details on the assigned rating, please see TPGSB’s preliminary rating announcement dated April 5, 2022. The complete analysis is provided in the Credit Analysis Report which is available on MARC’s website at www.marconline.com.my.