MARC has downgraded its ratings on Hytex Integrated Berhad’s (Hytex) RM100 Million Murabahah Underwritten Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN) to MARC-3ID / BBB-ID from MARC-2ID /A-ID. The rating carries a developing outlook. The downgrade reflects the current strain on the apparel maker’s liquidity stemming from weaker industry fundamentals, recent ope...

MARC has affirmed the ratings of apparel manufacturer Hytex Integrated Berhad’s (Hytex) RM100.0 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes (MUNIF/ IMTN) at MARC-2ID /A-ID. Concurrently, MARC has revised the rating outlook to negative from developing.Hytex’s revised rating outlook reflects MARC’s view that while contract manufacturing orders ...

MARC has removed the MARC-2ID /A-ID ratings of Hytex Integrated Berhad’s RM100.0 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes (MUNIF/ IMTN) from MARCWatch Negative and reaffirmed the ratings. The reaffirmed ratings reflect MARC’s expectations of improvements in HIB’s operating performance with its newly commissioned integrated plant in China. ...

MARC has downgraded the long term ratings of Hytex Integrated Berhad’s (“HIB”) Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (“MUNIF/IMTN”) of up to RM100.0 million from AID to A-ID and affirmed the short term rating at Marc-2 with stable outlook. The revision of the long term rating to A-ID reflects the declining financial profile arising...

MARC has assigned short and long term ratings of MARC-2ID and AID respectively to Hytex Integrated Berhad’s (“HIB”) Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (“MUNIF/IMTN”) of up to RM100.0 million. The ratings reflect the group’s profile as an integrated garment manufacturer; long established relationship with Nike; and superior...