PETALING JAYA: MARC Ratings has upgraded its rating on port operator Johor Port Bhd’s (JPB) Islamic medium-term notes (IMTNs) programme to AAIS and revised the outlook to “stable” from “positive”.

The rating on the Islamic Commercial Papers Programme has been affirmed at MARC-1IS.

“The programmes have a combined aggregate limit of RM1bil with the current outstanding comprising entirely IMTNs of RM600mil,” it said in a statement.

“The upgrade on JPB’s long-term rating reflects its earnings resilience during the period of trade uncertainty, supported by Johor Port’s geographically strategic location as a key gateway port in southern Peninsular Malaysia and its diversified cargo handling capabilities. Its concession rights extending to 2055 ensure long-term earnings visibility.”

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.