[MARC] MARC Ratings withdraws rating on Northport’s RM1.5 billion Sukuk Musharakah Programme

MARC Ratings has withdrawn its AAIS rating on Northport (Malaysia) Bhd’s RM1.5 billion Sukuk Musharakah Programme. The rating withdrawal follows the cancellation of the programme as confirmed by the facility agent on 2 July 2025.

The rating agency highlights that Northport has proposed RM1.0 billion Sukuk Wakalah Programmes, comprising Islamic Commercial Papers and Islamic Medium-Term Notes, that carry preliminary ratings of MARC-1IS/AAIS with a stable outlook on the long-term rating.

Vanessa Leong, +603-2717 2931/ xinyue@marc.com.my
Taufiq Kamal, +603-2717 2951/ taufiq@marc.com.my