MARC has downgraded the rating of Kerisma Berhad’s (Kerisma) RM100.0 million subordinated bonds to D from C to reflect Kerisma’s failure to make payment of principal on the RM100.0 million subordinated bonds on its maturity date, June 10, 2009.Kerisma had earlier defaulted on its RM870.0 million senior secured bonds and RM30.0 million mezzanine bonds due on June 3, 2009, of which only ...

MARC has downgraded the long term ratings of Kerisma Berhad’s (Kerisma) RM870.0 million senior secured bonds and RM30.0 million mezzanine bonds from B to D and from C to D, respectively. The downgrade of the rating on the senior secured bonds reflect the failure to make full payment of outstanding principal on the senior secured bonds on the original scheduled maturity date of June 3, 2009.&...

MARC has downgraded the long term ratings of Kerisma Berhad’s (Kerisma) RM870.0 million senior secured bonds and RM30.0 million mezzanine bonds from BBB to B and from BB- to C respectively, and affirmed the RM100.0 million subordinated bonds at C. The ratings remain on MARCWatch Negative. The rating actions reflect reduced likelihood of full principal payments to both classes of bonds on the...

MARC has downgraded the long term ratings of Kerisma Berhad’s (Kerisma) RM870.0 million senior secured bonds and RM30.0 million mezzanine bonds from AA- to BBB and from A- to BB- respectively, and affirmed the RM100.0 million subordinated bonds at C. The ratings are now placed on MARCWatch Negative. The lowered ratings are premised on the weakened collateral performance reflected by a contin...

MARC has affirmed the ratings of Kerisma Berhad’s (Kerisma) RM870.0 million senior secured bonds, RM30.0 million mezzanine secured bonds and RM100.0 million subordinated secured bonds at AA-, A- and C, respectively. The affirmation is premised on the stabilized credit quality of the underlying loans portfolio since MARC’s last rating action in February 2008; higher credit enhancement l...

MARC has downgraded the ratings of Kerisma Bhd’s (Kerisma) RM870.0 million senior secured bonds, RM30.0 million mezzanine secured bonds and RM100.0 million subordinated secured bonds from AAA, AA and B to AA-, A- and C respectively. The downgrades are premised on further deterioration in the underlying loan portfolio resulting from a new obligor default and lowered credit enhancement levels ...

MARC has placed long term ratings of Kerisma Berhad’s (Kerisma) RM870.0 million senior secured bonds, RM30.0 million mezzanine secured bonds and RM100.0 million subordinated secured bonds (Bonds) on MARCWatch Negative following a missed interest payment by an obligor belonging to the automotive industry. This most recent default leads MARC to believe that the AAA, AA- and B ratings of the se...

MARC has reaffirmed the rating of Kerisma Bhd’s (Kerisma) RM870.0 million senior secured bonds at AAA; affirmed the RM30.0 million mezzanine secured 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 deterioration in the collateral pool sin...

MARC has reaffirmed the rating of Kerisma Bhd’s (Kerisma) RM870.0 million senior secured bonds at AAA; and, downgraded the RM30.0 million mezzanine secured bonds and RM100.0 million subordinated secured bonds from AA and BB to AA- and BB- respectively. The downgrades are premised on the decline in the weighted average rating (WAR) of Kerisma’s portfolio of corporate loans to A-/BBB+ fr...

MARC is currently undertaking a review for possible downgrades on the long-term ratings of Kerisma Bhd’s (Kerisma) RM870.0 million senior secured bonds, RM30.0 million mezzanine secured bonds and RM100.0 million subordinated secured bonds. The review for possible downgrades is based upon the downgrade of an obligor to D following the obligor’s failure to pay interest on its loan under ...