MARC has downgraded the long-term rating of CapOne Berhad’s (CapOne) secured RM600 million Super Senior Class A-1 bonds to D from AA+. At the same time, the C ratings on the RM250 million Senior Class A-2, RM50 million Mezzanine Class B and the RM100 million subordinated bonds have also been downgraded to D. CapOne, a bankruptcy remote special purpose company, was established to implement th...

MARC lowered its rating on CapOne Berhad’s (CapOne) RM250 million Senior Class A-2 bonds to C from B. At the same time, the AA+ rating on the RM600 million Super Senior Class A-1 and the C rating on the RM50 million Mezzanine and RM100 million Subordinated bonds are affirmed. The outlook remains negative. The downgrade of Class A-2 bonds is premised on collateral deterioration following two ...

MARC has downgraded the ratings of CapOne Berhad’s (CapOne) RM600 million Super Senior Class A-1 and RM250 million Senior Class A-2 bonds to AA+ and B from AAA and BB respectively and affirmed its RM50 million Mezzanine Class B and RM100 million Subordinated bonds at C. Both of the downgraded classes carry a negative outlook. The downgrades reflect the continued credit deterioration of the u...

MARC has downgraded the rating of CapOne Berhad’s (CapOne) RM250.0 million Senior Class A-2 bonds to BB from BBB+; and affirmed the ratings of RM600.0 million Super Senior Class A-1 bonds, RM50 million Mezzanine Class B bonds and RM100.0 million subordinated secured bonds at AAA, C and C respectively. Concurrently, MARC has revised its outlook on the Super Senior Class A-1 to negative from s...

MARC has affirmed the ratings of CapOne Berhad’s (CapOne) RM600.0 million Super Senior Class A-1 bonds and RM100.0 million subordinated secured bonds at AAA and C respectively; and downgraded the RM250.0 million Senior Class A-2 bonds and RM50.0 million Mezzanine Class B bonds from AA- to BBB+ and from BBB- to C respectively. Additionally, MARC has assigned a negative outlook for Senior Clas...

MARC has affirmed the ratings of CapOne Berhad’s (CapOne) RM600.0 million Super Senior Class A-1 bonds and RM100.0 million subordinated secured bonds at AAA and C respectively; and downgraded the RM250.0 million Senior Class A-2 bonds and RM50.0 million Mezzanine Class B bonds from AAA to AA- and A- to BBB- respectively. At the same time, the ratings were removed from MARCWatch Negative, whe...

MARC has placed CapOne Berhad’s (CapOne) Bonds comprising RM600.0 million super senior Class A-1 secured bonds and RM250.0 million senior Class A-2 secured bonds rated AAA and RM50.0 million mezzanine Class B secured bonds rated A- on MARCWatch Negative. The RM100.0 million subordinated bonds rated C are not affected by this rating action.CapOne is a bankruptcy remote special-purpose company...

MARC has reaffirmed the ratings of CapOne Bhd’s (CapOne) RM600.0 million Super Senior Class A-1 bonds and RM250.0 million Senior Class A-2 bonds at AAA and downgraded RM50.0 million Mezzanine Class B bonds and RM100.0 million subordinated secured bonds from AA to A- and B to C respectively. At the same time, the ratings were removed from MARC Watch, where they had been placed on March 28, 20...

MARC has placed CapOne Berhad’s (CapOne) AAA-rated RM600.0 million super senior Class A-1 secured bonds, AAA-rated RM250 million senior Class A-2 secured bonds, AA-rated RM50.0 million mezzanine Class B secured bonds and B-rated RM100.0 million subordinated secured bonds (Bonds) on MARCWatch Negative following a missed interest payment by an obligor belonging to the automotive industry. This...

MARC has reaffirmed the ratings of CapOne Bhd’s (CapOne) RM600.0 million super senior class A-1 bonds  and RM250 million senior class A-2 bonds at AAA; RM50 million mezzanine bonds at AA and downgraded the rating of the RM100.0 million subordinated secured bonds to B from BB- respectively. The lowered rating on the subordinated bonds reflects a new obligor default and further deteriorat...