Friday, Jul 07, 2017
MARC has downgraded Alam Maritim Resources Berhad’s sukuk rating to DIS from BB+IS following the missed sukuk principal payment of RM30.0 million on July 6, 2017 of the outstanding RM75.0 million under its Sukuk Ijarah Medium-Term Notes programme. Concurrently, the rating has been removed from MARCWatch Negative where it was placed on May 30, 2017. Alam Maritim is a major domestic offshore support vessel provider for the oil and gas industry.
Following the downgrade, MARC will no longer conduct rating surveillance on the programme.
Contacts:
Afeeq Amiri, +603-2717 2956/ afeeqamiri@marc.com.my;
Sharidan Salleh, +603-2717 2954/ sharidan@marc.com.my.