These rating actions reflect the increasingly challenged liquidity positions of the affected issuers arising from the unresolved deadlock in negotiations between the Selangor government, federal government and the water concessionaires on the restructuring of the state's water sector. MARC believes that the unresolved deadlock significantly reduces the likelihood that the restructuring process wil...

MARC has revised the issue ratings of the Selangor water sector, including Syarikat Bekalan Air Selangor Sdn Bhd (SYABAS), following a review of the ratings which was initiated in June 2010. The single notch downgrade of SYABAS’ long-term rating to A+ID from AA-ID reflects continued cash flow challenges at the Selangor state’s sole water distributor as reflected by its inability to mee...

MARC has affirmed Syarikat Bekalan Air Selangor Sdn Bhd’s (SYABAS) RM3.0 billion Bai Bithaman Ajil Commercial Papers/Medium Term Notes Programme (BBA CP/MTN) ratings of MARC-1ID /AA-ID. The developing outlook on the rating has been maintained to reflect the unresolved situation around the restructuring of the Selangor water sector and SYABAS’ deferred water tariff hike (please refer to...

MARC has affirmed Syarikat Bekalan Air Selangor Sdn Bhd’s (SYABAS) RM3.0 billion Bai Bithaman Ajil Commercial Papers/Medium Term Notes Programme ratings of MARC-1ID /AA-ID. Concurrently, MARC has revised the rating outlook to developing from stable to reflect SYABAS’ increased risk of lower-than-expected tariffs and early termination of its water distribution concession agreement (CA)....

MARC has affirmed Syarikat Bekalan Air Selangor Sdn Bhd’s (SYABAS) RM3.0 billion Bai Bithaman Ajil Commercial Papers/Medium Term Notes Programme ratings of MARC-1ID /AA-ID. Concurrently, MARC has revised the rating outlook to developing from stable to reflect SYABAS’ increased risk of lower-than-expected tariffs and early termination of its water distribution concession agreement (CA)....

MARC has reaffirmed Syarikat Bekalan Air Selangor Sdn Bhd’s (SYABAS) RM3.0 billion Bai Bithaman Ajil Commercial Papers/Medium Term Notes Programme ratings of MARC-1ID /AA-ID. The ratings carry a stable outlook. The ratings reflect SYABAS’ dominant position as the sole distributor of treated water for the states of Selangor, Kuala Lumpur and Putrajaya; the low risk nature of the water i...

The MARC-1ID /AA-ID rating of Syarikat Bekalan Air Selangor Sdn Bhd’s (SYABAS) RM3.0 billion Bai Bithaman Ajil Commercial Papers/Medium Term Notes Programme was affirmed with a stable outlook, reflecting its dominant position as the sole distributor of treated water for the states of Selangor, Wilayah Persekutuan Kuala Lumpur and Putrajaya; the Government’s support for the water priv...

The MARC-1ID/AA-ID corporate debt rating assigned to Syarikat Bekalan Air Selangor Sdn Bhd (SYABAS), reflects its dominant position as the sole distributor of treated water for the states of Selangor, Wilayah Persekutuan Kuala Lumpur and Putrajaya; the Government’s support for the water privatization programme; the low risk nature of the business given the importance of treated water for d...