Friday, Oct 14, 2016
MARC has withdrawn its DID rating on Malaysian International Tuna Port Sdn Bhd’s (MITP) RM240.0 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDs) facility. The rating agency’s last action on MITP was on November 18, 2009 when the BaIDs was downgraded to DID following the company’s failure to make a profit payment.
The rating withdrawal follows the final settlement of the outstanding BaIDs on October 10, 2016 and subsequent termination of the facility, as confirmed by the facility agent.
Contact:
Sharidan Salleh, +603-2082 2254/ sharidan@marc.com.my.