MARC has downgraded its rating on Scomi Group Berhad's RM500 million Medium Term Notes programme to BBB+ from A. The rating continues to be maintained on MARCWatch Negative. The rating action affects RM200 million of outstanding notes. The downgrade in Scomi's rating reflects noteholders' rising susceptibility to event risk as a result of a delay encountered in the completion of its announced dive...

MARC has downgraded its rating on Scomi Group Berhad’s (Scomi or group) RM500 million Medium Term Notes (MTN) programme to A from A+ and concurrently placed the rating on MARCWatch Negative. The rating action affects RM200 million of outstanding MTNs.The downgrade follows the release of Scomi’s unaudited results for the financial year ended December 31, 2011 (FY2011). While Scomi had e...

MARC lowered its issue rating on Scomi Group Bhd’s (Scomi) RM500 million Medium Term Notes (MTN) programme to A+ from AA-. The rating was removed from MARCWatch, where it was placed with negative implications on July 27, 2011. The outlook on the rating is negative. The downgrades affect RM200 million of outstanding MTNs. The one-notch downgrade for Scomi’s issue rating balances its low...

MARC has affirmed its AA- rating on Scomi Group Bhd's (Scomi) RM500 million Medium Term Notes Programme (MTN) and revised its rating outlook to negative from stable. The outlook revision incorporates some weakening in Scomi's business and financial profile as a result of current negative industry fundamentals.The affirmed rating, meanwhile, incorporates steps taken by Scomi to bolster its liquidit...

MARC has affirmed its AA- rating on Scomi Group Bhd’s (Scomi) RM500 million Medium Term Notes Programme (MTN) and has revised the outlook on the rating to stable from negative. The rating affirmation takes into account Scomi’s reduced dependence on its oilfield services division with higher earnings contributions from its engineering and marine business divisions and the additional cap...

MARC has affirmed its AA- rating on Scomi Group Bhd’s (Scomi) RM500 million Medium Term Notes Programme (MTN). At the same time, MARC has revised the outlook on the rating to negative from stable. Scomi is primarily involved in the provision of oil and gas support services for the global oil and gas industry. It operates in four segments: oilfield services, energy and logistics engineering, ...

MARC has reaffirmed the long-term rating of AA- on Scomi Group Bhd’s (“Scomi”) RM500.0 million Medium Term Notes Programme (“MTN”). The rating outlook is stable. The rating reflects the consolidated credit profile of Scomi, which is primarily driven by its oilfield services operations. The latter is core to Scomi’s debt servicing capacity, representing about 73....

MARC has affirmed, with Stable Outlook, the AA- rating to Scomi Group Bhd’s (Scomi) RM500 million Medium Term Notes (Notes). The rating reflects the group’s good competitive position as the group has one of the most comprehensive range of products and services for the provision of integrated fluids solutions in the world; its business presence in 35 countries following the acquisitio...

MARC has assigned a AA- rating to Scomi Group Bhd’s (Scomi) proposed issuance of RM500 million Medium Term Notes (Notes). The rating reflects the group’s good competitive position as the group has one of the most comprehensive range of products and services for the provision of integrated fluids solutions in the world; its regional presence in 34 countries following the acquisition o...