KUALA LUMPUR, March 18 (Bernama) -- Malaysian Rating Corporation Bhd (MARC) has affirmed its AAAIS and AA+IS ratings on Tradewinds Plantation Capital Sdn Bhd's asset-backed RM180 million Class A and RM30 million Class B Sukuk Ijarah respectively, with a stable outlook. The affirmed ratings of the Class A and Class B Sukuk Ijarah reflects the satisfactory performance of the securitised plantation assets and higher-than-projected net operating income (NOI), the rating agency said in a statement here Thursday. "The stable outlook on the ratings reflects expectations that the actual performance of the estates would remain within MARC's assessed sustained NOI," it explained. MARC also has affirmed its MARC-1ID and MARC-1ID(bg)/AA+ID(bg) ratings on Tradewinds Capital's RM90 million Murabahah Commercial Papers Programme and RM100 million Bank Guaranteed Murabahah Commercial Papers/Medium Term Notes Programme respectively, with a stable outlook.
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