Thursday, Jul 31, 2014
MARC has withdrawn its ratings of MARC-1ID/AAID on Serrisa Sinar Berhad’s (Serrisa Sinar) RM200.0 million Islamic Commercial Papers (ICP)/Islamic Medium-Term Notes (IMTN) Facility (Senior Notes facility). The rating withdrawal follows the full redemption of the outstanding RM5.0 million Senior Notes on July 21, 2014 and the cancellation of the facility on July 25, 2014 as confirmed by the facility agent.
MARC’s analytical coverage on Serrisa Sinar is now limited to the RM20.0 million Junior IMTN Notes facility which expires on July 8, 2016. The Junior Notes facility which is currently rated AA-ID with a stable outlook has been put on MARCWatch Positive with a potential upgrade upon conclusion of our on-going review on the facility.
[This announcement is available in the MARC corporate homepage at http://www.marc.com.my]