MARC has assigned a CID rating to Tracoma Holdings Bhd's (Tracoma) proposed RM100 million Restructured Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS).  The Restructured BaIDS will be issued in connection with Tracoma's debt restructuring plan which involves its existing BaIDS holders. Accordingly, MARC has withdrawn its D rating on Tracoma’s existing RM100 million BaIDS which ...

MARC has downgraded the long term rating of Tracoma Holdings Berhad’s (Tracoma) RM100 million Al Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) to BID from BB+ID. At the same time, Tracoma’s rating was removed from MARCWatch Negative where it had been placed since July 25, 2008. The rating now carries a negative outlook.The downgrade reflects heightened concerns over Tracoma&...

MARC has downgraded the rating of Tracoma Holdings Berhad’s (“Tracoma”) RM100 million Al Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) from AID to BBB+ID with a negative outlook. The rating downgrade is underpinned by the current negative domestic automotive industry outlook reflecting weak industry fundamentals which MARC believes will have an adverse impact on Trac...

The rating affirmation of Tracoma Holdings Berhad’s (“Tracoma”) RM100 million Al Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) at AID is underpinned by Tracoma Group’s proven track record as a Tier-1 local automotive component manufacturer coupled with its on-going expansion plans. Nonetheless, moderating factors to the rating include the Group’s exposur...

MARC has assigned a rating of AID to Tracoma Holdings Berhad’s (Tracoma) RM100 million Al Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS). The rating reflects, amongst others, Tracoma’s vast experience and good track record as one of the leading local automotive component manufacturers and its commendable financial results. The rating is, however, moderated by the vulnerabil...