RAM Ratings has reaffirmed the AA1 long-term rating of Ranhill Powertron’s MYR 540 million Islamic Medium-Term Notes (IMTN) Programme, with a stable outlook. Ranhill Powertron is an independent power producer that operates a 190-MW combined-cycle, gas-turbine power plant (the Plant) in Kota Kinabalu, Sabah, under a 21-year power-purchase agreement with Sabah Electricity.
Ranhill Powertron earned full capacity payments (CPs) and maintained its sound operational track record in FYE 31 December 2011 (FY Dec 2011). Nonetheless, there was a MYR 0.32 million shortfall (or about one per cent) in potential CPs - a first for the Company - for January to March 2012; this was due to a lower-than-required average Equivalent Availability Factor arising from the prolonged shutdown of Block 2………………………………………..Full Article: Source