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MARC has affirmed the ratings on Radicare Sdn Bhd’s (Radicare) RM100 million CP/MTN facility at MARC-1/A+. The rating outlook is revised to stable from negative. The rating action incorporates the indefinite extension of Radicare’s concession agreement (CA) granted by the Malaysian government after the expiry of a six-month extension in April 2012. The extension which will be in force ...
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MARC has withdrawn its BB+ rating on Scomi Group Bhd’s (Scomi, or the issuer) RM500.0 million Medium-Term Notes (MTN) programme at the request of the issuer. The rating withdrawal affects RM142 million of outstanding notes due on September 28, 2012.The noteholders have approved and consented via resolution to the removal of the rating requirement for the notes and conversion of the notes to ...
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MARC has lowered its debt rating on Scomi Group Berhad’s RM500 million Medium Term Notes programme to BB+ from BBB+. The rating remains on MARCWatch Negative, where it was placed on June 21, 2012. The rating action affects RM200 million of outstanding notes due on September 28, 2012. The rating downgrade primarily reflects heightened repayment uncertainty as a result of Scomi’s delay ...
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MARC has affirmed its short-term and long-term Islamic debt ratings of MARC-1ID/AAAID on UMW Holdings Berhad (UMW) with a stable outlook. The rating actions affect RM800 million of outstanding notes issued under the investment holding company's RM300 million Islamic Commercial Paper/Islamic Medium Term Notes (ICP/IMTN) Programme and RM500 million IMTN Programme. The affirmed ratings and outlook re...
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MARC has issued a rating update on its A- rating on Perdana Petroleum Berhad’s (Perdana Petroleum) RM400 million Nominal Value Secured Serial Bonds following its announced divestment of its 26.9% equity stake in Petra Energy Bhd (PEB). Proceeds raised from the proposed divestment will be applied toward the early redemption of RM70 million of outstanding bonds, of which RM35 million is due on...
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MARC DOWNGRADES DEBT RATING ON SCOMI GROUP BERHAD TO BBB+ AND MAINTAINS RATING ON MARCWATCH NEGATIVE
MARC has downgraded its rating on Scomi Group Berhad's RM500 million Medium Term Notes programme to BBB+ from A. The rating continues to be maintained on MARCWatch Negative. The rating action affects RM200 million of outstanding notes. The downgrade in Scomi's rating reflects noteholders' rising susceptibility to event risk as a result of a delay encountered in the completion of its announced dive...
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MARC has affirmed its rating on Boustead Holdings Berhad’s (Boustead Holdings) RM1.0 billion Bank Guaranteed Medium Term Notes (BG MTN) programme at AAA(bg) with a stable outlook. The rating reflects the credit strength of the syndicated bank guarantee facility provided by OCBC Bank (Malaysia) Berhad (OCBC Malaysia), Public Bank Berhad (Public Bank), Malayan Banking Berhad and The Bank of Ea...
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MARC has downgraded its rating on Scomi Group Berhad’s (Scomi or group) RM500 million Medium Term Notes (MTN) programme to A from A+ and concurrently placed the rating on MARCWatch Negative. The rating action affects RM200 million of outstanding MTNs.The downgrade follows the release of Scomi’s unaudited results for the financial year ended December 31, 2011 (FY2011). While Scomi had e...
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MARC has affirmed Sime Darby Berhad’s (Sime Darby) debt ratings as follows:RM4.5 billion Islamic Medium Term Note (IMTN) Programme (RM2.0 billion outstanding) and RM500 million Islamic Commercial Paper (ICP) Programme (RM500 million outstanding) with combined limit of RM4.5 billion at AAAID/ MARC-1ID andRM150 million Underwritten Murabahah Commercial Papers Facility at MARC-1ID.The outlook o...
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MARC has affirmed its ratings on MISC Berhad's (MISC) RM2.5 billion Islamic Medium Term Notes (IMTN) and RM1.0 billion Murabahah Commercial Papers/Medium Term Notes (MCP/MTN) Programmes at AAAID and MARC-1ID /AAAID respectively and revised the outlook to negative from stable. The rating action affects RM2.25 billion of outstanding notes under the rated programmes.The outlook revision follows the c...
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