MARC has placed the rating of MARC-3ID in respect of Stenta’s RM90 million Murabahah Notes Issuance Facility (MUNIF) on a developing outlook; pending the approval of the Securities Commission (SC) and noteholders on the revision in reduction schedule of the MUNIF. The proposed revision is attributed to the high raw material (petroleum-based resins) prices in tandem with the uptrend in oil prices, which has in turn affected the profitability and cash flow position of Stenta. The maintenance of the present rating is based on Stenta’s ability to fulfil its obligation under the revised schedule of the MUNIF.