Displaying 2111-2120 of 3676 results.
MARC has downgraded its long- and short-term ratings on Nam Fatt Corporation Berhad’s (Nam Fatt) RM250 million Islamic Commercial Papers/Islamic Medium Term Notes Programme (ICP/IMTN) as follows:Long-term debt rating to DID from CIDShort-term debt rating to DID from MARC-4IDMARC has also removed Nam Fatt’s ratings from MARCWatch Negative where they were placed on December 30, 2009. Tod...
This article has been viewed 1540 times.
MARC has downgraded its rating on Malaysian Merchant Marine Bhd’s (MMM) RM120 million Al Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) to DID from CID. Concurrently, MARC has removed MMM’s rating from MARCWatch Negative, where it was placed on March 17, 2010 to reflect heightened concerns of imminent default. The rating action follows MMM's failure to meet an accelerat...
This article has been viewed 1352 times.
Kuwait Finance House (Malaysia) Berhad (KFHMB) announced recently that it is in the midst of conducting a due diligence status audit on certain past transactions and contractual arrangements of the bank with a view to strengthen its credit processes, and ultimately, asset quality. MARC does not see any immediate rating implications for KFHMB's financial institution ratings of AA+/MARC-1. At a meet...
This article has been viewed 1435 times.
MARC continues to maintain KMCOB Capital Berhad's (KMCOB Capital) AA-ID(CG) rating for its RM630 million Murabahah Medium Term Notes (MTN) facility, on MARCWatch Developing where it has been placed since December 30, 2009. MARC expects to resolve the Developing Watch within the next three months upon completion of Scomi Group Berhad's (Scomi) recently announced debt rationalisation exercise for Sc...
This article has been viewed 1170 times.
MARC has assigned a rating of AAIS on Haluan Gigih Sdn Bhd’s (HGSB) proposed Sukuk Musyarakah Medium Term Note (IMTN) Programme of up to RM240.0 million. Proceeds will be used to fund the RM157.5 million acquisitions of two office buildings, with the balance to fund inter-company advances to its parent, Alloy Consolidated Sdn Bhd (ACSB). The assigned rating reflects MARC's assessment of HGSB...
This article has been viewed 1176 times.
MARC announced today that it has affirmed with a stable outlook and withdrawn its AA/MARC-1 and AAID/MARC-1ID ratings on CIMB Group Holdings Berhad's (formerly known as Bumiputra-Commerce Holdings Berhad) RM6.0 billion Conventional and Islamic Commercial Paper (CP) and Medium Term Notes (MTN) Programmes. The rating withdrawal is subsequent to the issuer's request and follows the withdrawal of the ...
This article has been viewed 1501 times.
MARC has affirmed its ratings of Prima Uno Berhad’s (Prima Uno) RM290 million Super Senior A and RM335 million Super Senior B bonds at AAA, respectively with a stable outlook. Concurrently, the ratings for the RM190 million Senior, RM40 million Mezzanine and RM95 million Subordinated bonds have been downgraded to A-, B and C from AAA, AA and BB- respectively, with a negative outlook. The aff...
This article has been viewed 1881 times.
MARC has affirmed its AAAIS and AA+IS ratings on Tradewinds Plantation Capital Sdn Bhd’s (Tradewinds Capital) asset-backed RM180 million Class A and RM30 million Class B Sukuk Ijarah respectively, with a stable outlook. The affirmed ratings of the Class A and Class B Sukuk Ijarah reflect the satisfactory performance of the securitised plantation assets and higher-than...
This article has been viewed 1624 times.
MARC has removed its ratings on Petra Perdana Berhad’s (Petra) RM400 million Secured Serial Bonds and RM400 million Medium Term Notes from MARCWatch Developing, where they had been placed on December 16, 2009 following the company’s divestment of a 25.03% stake in Petra Energy Berhad (PEB). At the same time, MARC has affirmed its A+ debt ratings on Petra with a Stable Outlook.The affir...
This article has been viewed 1047 times.
MARC has downgraded its rating on Malaysian Merchant Marine Bhd’s (MMM) RM120 million Al Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) to CID from BB+ID. Concurrently, the rating has been placed on MARCWatch Negative.The rating actions reflect MARC's view that default appears imminent. MMM's recurring losses from operations, eroded capital base, and inability to generate sufficien...
This article has been viewed 1353 times.