Displaying 2721-2730 of 3676 results.
WCT Land Berhad’s (“WCTL”) RM132 million Convertible Redeemable Debt Securities (“CRDS”) is affirmed at A+ (cg) with stable outlook. The rating reflects the credit support extended by its holding company, WCT Engineering Bhd (“WCTE”), which has sizeable construction order book, and improving business and financial risk profile. WCTL’s stand-alone cre...
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MARC has placed CNLT (FAR EAST) Berhad’s (CNLT) RM60 million Bank Guaranteed Commercial Papers/Medium Term Notes ratings of MARC-1(bg)/A(bg) respectively on MARCWatch Negative. The MARCWatch placement follows the announcements by CNLT’s Board of Directors to Bursa Malaysia on 12 September 2007 and 13 September 2007 that Provisional Liquidators have been appointed upon application by a ...
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MARC has downgraded the long-term rating of Delloyd Ventures Berhad (“Delloyd” or “the Group”) from A+ ID to A ID, whilst maintaining the short term rating at MARC-1 ID in respect of its RM100 million Islamic Commercial Papers/Medium-Term Notes (ICP/MTN) Programme. The rating carries a developing outlook. The downgrade of Delloyd’s long-term rating reflects deteriorat...
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MARC has lowered the rating on Ace Polymers (M) Sdn Bhd’s (“Ace”) RM70 million Al Bai Bithaman Ajil Islamic Debt Securities (“BaIDS”) from ‘BBB- ID’ to ‘D ID’. The rating of “D” reflects Ace’s failure to make scheduled payment on the RM10 million Primary BaIDS due on September 14, 2007. Ace was placed on MARCWatch Negative on ...
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MARC has placed the MARC-3ID rating on M-Trex Corporation Sdn Bhd (M-Trex)’s RM60.0 million Islamic Commercial Paper Programme (ICPs) on MARCWatch Negative upon completion of its annual review on M-Trex, due to a number of unresolved issues with the potential for continued uncertainty. The MARCWatch Negative reflects slow progress in resolution of covenant breaches relating to M-Trex’s...
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MARC has assigned ratings of AAA, AA and A+ to Class Auto Receivables Berhad’s (Class Auto) RM395.0 million Class A, RM20.0 million Class B and RM20.0 million Class C Medium-Term Notes. Class Auto, a special purpose vehicle whose shares are held by the share trustee for the benefit of certain charities, was incorporated for the purpose of purchasing hire purchase receivables from the origina...
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MARC has assigned a rating of A to Handal Offshore Services Sdn Bhd’s (“Handal” or the “Company”) RM50 million Medium-Term Notes Programme (“MTN Programme”). The rating carries a stable outlook. Handal is a full line offshore crane manufacturing and service company specializing in the production of offshore pedestal mounted cranes for the oil and gas (&ldq...
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Following MARC’s announcement on 9 August 2007, MARC has uplifted the MARCWatch Negative rating on PSSB Ship Management Sdn Bhd’s (“PSM”) RM40.0 million Bai Bithaman Ajil Islamic Securities (“BAIS”) and concurrently downgraded the BAIS rating from A+ID to AID (A flat, Islamic Debt). The rating carries a negative outlook. The downgrade of the BAIS facility reflec...
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MARC has affirmed the ratings of MARC-1ID/AAID on Cellular Structures Sdn. Bhd. (CSSB) RM184.0 million Senior MUNIF/IMTN (Senior Notes) under its RM192 million MUNIF/IMTN Facility (Facility). The ratings reflect the credit quality of the rental payment stream from creditworthy telecommunication companies (telcos) that is assessed to be MARC-1ID/AAID. The payment stream is backed by a licensi...
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MARC has withdrawn the AA insurer financial strength rating assigned to Lonpac Insurance Bhd (“Lonpac”) with immediate effect following Lonpac’s decision not to continue with the rating....
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