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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...
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MARC has downgraded its ratings on Nam Fatt Corporation Berhad’s (Nam Fatt) RM250 million Islamic Commercial Paper/Islamic Medium Term Notes Programme (ICP/IMTN) to MARC-4ID/CID from MARC-3ID/BBB+ID. The ratings continue to be placed on MARCWatch Negative where it has been placed since December 30, 2009. The rating action was taken following Nam Fatt’s failure to meet its princip...
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MARC has downgraded its ratings on Nam Fatt Corporation Berhad’s (Nam Fatt) RM250 million Islamic Commercial Paper/Islamic Medium Term Notes Programme (ICP/IMTN) to MARC-3ID/BBB+ID from MARC-1ID/A+ID, and concurrently placed the ratings on MARCWatch Negative. The downgrade reflects significant and severe deterioration in the credit profile of Nam Fatt due to material delays in the progress o...
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MARC has affirmed its rating of MARC-1ID / A+ID on Nam Fatt Corporation Berhad’s (Nam Fatt) RM250 million Islamic Commercial Paper/Islamic Medium Term Notes Programme (ICP/IMTN). The affirmed ratings reflect the structural protections afforded to noteholders under the rated facility. Working capital availability is governed by prescribed advance rates for eligible contracts and cashflows fro...
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MARC has reaffirmed Nam Fatt Corporation Berhad’s (Nam Fatt) ratings for its RM250 million Islamic Commercial Paper/Islamic Medium Term Notes Programme (ICP/IMTN) at MARC-1ID /A+ID. The ratings are predicated on the facility’s tight issue structure which confines the utilization of draw downs under the facility to the financing of working capital requirements for specific contracts or ...
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The ratings of Nam Fatt Corporation Bhd’s (Nam Fatt) RM250 million Islamic Commercial Paper/Islamic Medium-Term Notes Programme have been affirmed at MARC-1ID/A+ID with a stable outlook, premised on the tight issue structure governing this facility, with strict guidelines for drawdown and restrictions on the type of contracts, which includes among others clearance from MARC that such contrac...
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MARC has assigned ratings of MARC-1ID/A+ID to Nam Fatt Corporation Berhad’s (Nam Fatt) RM250 million Islamic Commercial Paper/Islamic Medium Term Notes (ICP/IMTN) Programme. The ratings reflect a tight issue structure with pre-determined criteria of contracts that could be financed by the said facility and in turn proceeds from the contracts will be used to repay any outstanding notes before ope...
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