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MARC WITHDRAWS RATING ON ABS SAMUDERA RECEIVABLES BERHAD’S RM250 MILLION MEDIUM-TERM NOTES PROGRAMME
MARC has withdrawn its AA+ rating on ABS Samudera Receivables Berhad’s (ASRB) RM250.0 million Medium-Term Notes Programme (MTN Programme) with immediate effect. The rating withdrawal follows the early full redemption of the outstanding RM1.3 million notes Series-A on December 26, 2013 and subsequently the cancellation of the facility as confirmed by the trustee, Pacific Trustee Berhad. Upon ...
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MARC has affirmed the AA+ rating on ABS Samudera Receivables Berhad’s (ASRB) Notes Series-A issued under its RM250.0 million Medium Term Notes Programme (MTN Programme) with a negative outlook. The principal amount of notes outstanding under the programme has remained at RM1.3 million since the early partial redemption of RM3.7 million in December 2011.ASRB is a bankruptcy remote special pur...
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MARC has affirmed its AA+ rating on ABS Samudera Receivables Berhad's (ASRB) Series A notes issued under its RM250.0 million Medium Term Notes Programme (MTN Programme). The outlook is maintained at negative. The rating action continues to reflect adequate credit support for the programme’s outstanding notes of RM1.3 million after taking account what the rating agency considers to be a reaso...
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MARC has completed its review of ABS Samudera Receivables Berhad's (ASRB) rating on its Series A notes issued under its RM250.0 Medium Term Notes Programme and downgraded the rating to AA+ from AAA. The outlook is negative. The rating review had focused on a reassessment of credit protection for the RM5.0 million of outstanding notes, taking into account unexpected tax liabilities arising at the s...
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MARC is in the midst of reviewing its ratings on ABS Samudera Receivables Berhad’s (ASRB) RM15.0 million outstanding Notes Series-A under its RM250.0 million Medium Term Notes (MTN) Programme and will likely affirm the ratings if outstanding performance information and verification from accounting and tax specialist subsequently validates MARC’s assessment of the transaction’s pe...
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MARC has withdrawn the AAA rating assigned to ABS Samudera Receivables Berhad’s RM5.0 million Tranche 2 under Notes Series A of its RM250.0 million Medium-Term Notes (MTN) Programme with immediate effect following the full redemption of Tranche 2 on April 27, 2009. MARC’s rating obligation in respect of ASRB’s RM250.0 MTN programme is limited to the RM15.0 million currently outst...
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MARC has affirmed the AAA rating on ABS Samudera Receivables Berhad’s (ASRB) RM25.0 million Notes Series-A under its RM250.0 million Medium-Term Notes (MTN) Programme. The affirmation reflects the satisfactory performance of the underlying consumer receivables pool and the sufficient level of credit enhancement provided by excess spread and liquidity reserves available to support the AAA-rat...
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MARC has withdrawn the AAA rating assigned to ASRB’s RM5.0 million Tranche 1 under Notes Series A of its RM250.0 million Medium-Term Notes (MTN) Programme with immediate effect following the full redemption of Tranche 1 on April 25th, 2008. MARC’s rating obligation in respect of ASRB’s up to RM250.0 MTN programme is now limited to the RM20.0 million currently outstanding under th...
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MARC has assigned a rating of AAA to ABS Samudera Receivables Bhd’s (ASRB) RM25.0 million Notes Series-A under the RM250.0 million Medium-Term Notes (MTN) Programme. The rating of the first issuance of Notes by ASRB is premised on the credit enhancement provided by the sizeable excess spread and a liquidity reserve balance equivalent to approximately RM1.5 million, to be built up progressive...
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