MARC has downgraded the rating of Persoft Systems Sdn Bhd’s (PSSB) RM50 million Commercial Papers (CPs) programme to D from MARC-3. The rating action reflects PSSB’s failure to redeem its RM3 million CPs due on March 24, 2009, out of the outstanding RM14.0 million CPs, as confirmed by the CPs’ facility agent, MIMB Investment Bank Berhad.

Contacts:
Azlina Mohamed Noor Beg, 03-2090 2254/ azlina@marc.com.my;
Anthony Eng 03-2090 2255/ anthony@marc.com.my.