MARC has downgraded its ratings on Nam Fatt Corporation Berhad’s (Nam Fatt) RM250 million Islamic Commercial Paper/Islamic Medium Term Notes Programme (ICP/IMTN) to  MARC-3ID /BBB+ID from MARC-1ID/A+ID and concurrently placed the ratings on MARCWatch Negative. The downgrade reflects significant and severe deterioration in the credit profile of Nam Fatt due to material delays in the prog...

MARC has affirmed its rating of MARC-1ID /A+ID on Nam Fatt Corporation Berhad’s (Nam Fatt) RM250 million Islamic Commercial Paper/Islamic Medium Term Notes Programme (ICP/IMTN). The affirmed ratings reflect the structural protections afforded to noteholders under the rated facility. Working capital availability is governed by prescribed advance rates for eligible contracts and cashflows from...

MARC has reaffirmed Nam Fatt Corporation Berhad’s (Nam Fatt) ratings for its RM250  million  Islamic  Commercial   Paper/Islamic   Medium  Term  Notes  Programme  (ICP/IMTN)  at MARC-1ID /A+ID. The outlook for the ratings has been revised to developing from stable. The ratings are predicated on the facility’s tight issue struc...

The ratings of Nam Fatt Corporation Bhd’s (Nam Fatt) RM250 million Islamic Commercial Paper/Islamic Medium Term Notes Programme have been affirmed at MARC-1ID /A+ID with a stable outlook, premised on the tight issue structure governing the facility, with strict guidelines for drawdown and restrictions on the type of contracts that the facility can be availed upon, including clearance from ...

The ratings of MARC-1ID/A+ID for up to RM250 million Islamic Commercial Paper/Islamic Medium Term Notes (ICP/IMTN) are predicated upon Nam Fatt Corporation Berhad’s (Nam Fatt) competitive position in the construction and engineering business with a sizeable outstanding order book; good operating track record; improving financial profile and a tight issue structure with pre-determined crite...