MARC affirms AA-IS rating on Southern Power's RM4b sukuk

Malaysia Rating Corporation Bhd (MARC) has affirmed its rating of AA-IS on Southern Power Generation Sdn Bhd's sukuk wakalah of up to RM4 billion, with a stable outlook.

In a statement today, MARC said the rating affirmation is driven by predictable cash flows from the power plant developed by Southern Power in Pasir Gudang that are deemed capable of meeting financial obligations under the sukuk wakalah.

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