MALAYSIA: MARC has assigned a final rating of ‘AAAIS’ to TNB Power Generation (TNB)’s RM10 billion (US$2.28 billion) Sukuk program with a stable outlook, a statement read. Initially proposed in April 2022, TNB has the flexibility to also issue sustainability Sukuk under the program.
Proceeds from the issuance of sustainability Sukuk will be utilized for eligible projects that meet the criteria as set out in the TNB’s Sustainability Sukuk Framework.