20 Apr 2021 / 21:37 H. PETALING JAYA: Malaysian Rating Corp Bhd (MARC) has assigned a preliminary rating of ‘AA-’ to 7-Eleven Malaysia Holdings Bhd’s proposed RM600 million medium-term notes (MTN) programme with a stable outlook. “The assigned rating mainly reflects 7-Eleven’s strong and established market position in the convenience store segment, gained from a long operating track record with a wide store network that has supported stable earnings generation. Moderating the rating are the prevailing competition within the convenience store segment, particularly in the urban areas, and high operating cost inherent in the convenience store business model that has weighed on operating margins,” MARC said.