MARC has withdrawn its A+ rating on Handal Offshore Services Sdn Bhd’s (Handal) RM50 million Medium Term Notes Programme (MTN) with immediate effect. The rating withdrawal follows the early redemption of the nominal outstanding amount of RM15.0 million in the MTN programme on November 22, 2010 and cancellation of the facility on November 29, 2010 as confirmed by the facility arrang...

MARC has upgraded Handal Offshore Services Sdn Bhd’s (Handal) RM50 million Medium Term Notes (MTN) rating to A+ from A. The outlook on the rating is stable. The rating upgrade reflects the company’s strong recurring earnings generation and profitability, supported by its defensible business position as Malaysia’s only fully-integrated offshore pedestal crane service provider and ...

MARC has affirmed its rating of A on Handal Offshore Services Sdn Bhd’s (Handal) RM50.0 million Medium Term Notes Programme (MTN). The rating outlook has been revised to positive from stable. The affirmation of the rating is premised on greater earnings visibility from the company’s lifting solutions for workover projects division, which commenced operation in 2006 and the stable contr...

MARC has affirmed its long-term rating of A on Handal Offshore Services Sdn Bhd’s (Handal) RM50 million Medium Term Notes Programme (MTN). The rating outlook is stable. The rating affirmation reflects Handal’s positive track record as a specialist provider of offshore pedestal crane services and the continuing demand for its services as indicated by its long-term contracts with domesti...

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...