Displaying 1791-1800 of 3676 results.
MARC has downgraded its ratings on Ample Zone Berhad’s (Ample Zone) RM9.65 million Class B Sukuk Ijarah (sukuk) and RM75 million Class C sukuk to D from BB+IS and B-IS respectively. The downgrades reflect missed principal payments of RM84.65 million on January 27, 2012. MARC has received confirmation from the facility agent and trustee that no payments were made on the date. Ample Zone had e...
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MARC has lowered its rating on Perwaja Steel Sdn Bhd’s (Perwaja) RM400.0 million Murabahah Medium Term Notes (MMTN) programme from AID to A-ID. The outlook on the rating is negative. The rating action, which affects RM160 million of outstanding MMTNs under the programme, is premised on the prolonged decline in the steelmaker’s operating performance and the rating agency’s expecta...
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MARC has placed Kinsteel Berhad’s (Kinsteel) RM100 million Murabahah Commercial Papers/Medium Term Notes Programme (CP/MTN) and RM100 million Murabahah Medium Term Notes (MTN) Programme rated MARC-2ID /AID and AID respectively on MARCWatch Negative. The rating actions reflect Kinsteel group’s weakening financial measures that are likely to be exacerbated by part-debt funding of the ful...
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MARC has affirmed its MARC-1/AA- ratings on IJM Corporation Berhad’s (IJM) RM1.0 billion Commercial Paper/Medium Term Notes Programme (CP/MTN) with a stable outlook. The ratings action incorporates the satisfactory operating performance of its plantation, property and infrastructure segments, as well as the holding company’s broadly adequate liquidity and favourable financial flexibili...
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MARC has affirmed Tesco Stores (Malaysia) Sdn Bhd’s (Tesco Malaysia) RM3.5 billion Conventional Commercial Papers/Medium Term Notes (CP/MTN) Facility and Islamic Commercial Papers/Medium Term Notes (ICP/IMTN) Facility at MARC-1(cg)/AAA(cg) and MARC-1ID(cg)/AAAID(cg) respectively. The ratings carry a stable outlook. The affirmed ratings and outlook are premised on the corporate guarante...
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MARC has affirmed its AAIS rating with a stable outlook on Diversified Venue Sdn Bhd’s (DVSB) RM200 million Sukuk Al-Ijarah Master Programme. The rating affirmation is premised on the credit strength of UEM Group Berhad (UEM) which provides liquidity support to the sale-and-leaseback transaction undertaken by DVSB and First Impact Sdn Bhd (FISB), a wholly-owned subsidiary of UEM. In addition...
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MARC has downgraded its rating on Prima Uno Berhad’s (Prima Uno) RM335 million Super Senior B primary collateralised loan obligation (CLO) bonds to D from A-. Furthermore, the C ratings on the remaining classes of RM190 million Senior, RM40 million Mezzanine and RM95 million Subordinated CLO bonds have been downgraded to D. At the same time, MARC has removed its AAA rating for the RM290 mill...
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MARC has revised its outlook on its AA+IS(bg) rating on Aras Sejagat Sdn Bhd’s (Aras Sejagat) RM500 million Bank Guaranteed Sukuk Ijarah (Sukuk Ijarah) Programme to stable from negative. At the same time, MARC affirmed the AA+IS(bg) rating on the Sukuk Ijarah. The rating action on Aras Sejagat’s sukuk solely reflects the outlook change on MARC’s financial institution rating of gu...
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MARC has affirmed its rating on DutaLand Berhad’s (DutaLand) outstanding RM20,649,024 Redeemable Unsecured Loan Stocks (RULS) at B with a stable outlook. The rating action incorporates DutaLand’s improving operating performance, underpinned by a higher contribution from its plantation division that has offset weaker earnings from its property development activities, and its reliance on...
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MARC has downgraded the rating of Olympia Industries Berhad’s (Olympia) outstanding RM49,733,635 nominal value Redeemable Unsecured Loan Stocks (RULS) to B+ from BB- and concurrently revised the rating outlook to stable from negative. The rating action reflects Olympia’s continued weak financial performance, in particular its limited cash flow generation ability arising from its weak b...
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