Press Releases - Category: Industrial Products
Displaying 1-10 of 11 results.
Friday, Sep 27, 2013
MARC today has downgraded its rating on Perwaja Steel Sdn Bhd’s (Perwaja) RM400.0 million Murabahah Medium Term Notes (MMTN) programme to DID from CID. The rating agency has also removed Perwaja’s rating from MARCWatch Negative where it has been placed since April 17, 2013. The rating actions follow Perwaja’s failure to meet its repayment of RM50.0 million MMTN due on September 2...

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Friday, Sep 13, 2013
MARC today has downgraded its Islamic debt rating on Perwaja Steel Sdn Bhd’s (Perwaja) RM400 million Murabahah Medium Term Notes (MMTNs) Programme to CID from BBID. The rating remains on MARCWatch Negative where it has been placed since April 17, 2013. Perwaja has outstanding RM110.0 million notes under its MMTN Programme, of which RM50.0 million is due for repayment on September 25, 2013.Th...

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Friday, Jul 05, 2013
MARC has downgraded its rating on Perwaja Steel Sdn Bhd’s (Perwaja) RM400.0 million Murabahah Medium Term Notes (MMTN) programme to BBID from BBB-ID. In addition, the rating remains on MARCWatch Negative where it was placed on April 17, 2013. The rating downgrade and MARCWatch Negative placement reflects near-term liquidity concerns, poor operating performance and a significantly weaker fina...

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Wednesday, Apr 17, 2013
MARC has lowered its rating on Perwaja Steel Sdn Bhd’s (Perwaja) RM400.0 million Murabahah Medium Term Notes (MMTN) programme to BBB-ID from A-ID. Concurrently, MARC has placed the rating on MARCWatch Negative. The rating actions affect RM110.0 million of current outstanding notes. The rating downgrade reflects the steelmaker’s weak financial risk profile arising from the prolonged cha...

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Friday, Feb 03, 2012
MARC has lowered its rating on Perwaja Steel Sdn Bhd’s (Perwaja) RM400.0 million Murabahah Medium Term Notes (MMTN) programme from AID to A-ID. The outlook on the rating is negative. The rating action, which affects RM160 million of outstanding MMTNs under the programme, is premised on the prolonged decline in the steelmaker’s operating performance and the rating agency’s expecta...

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Thursday, Feb 10, 2011
MARC has affirmed the rating of Perwaja Steel Sdn Bhd’s (Perwaja) RM400 million Murabahah Medium Term Notes (MMTN) Programme at AID. The rating outlook has been revised to negative from stable. The outlook revision incorporates the recent deterioration in Perwaja’s operating performance, and continuing pressure from lower volumes and rising input costs. Of particular concern to MARC is...

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Tuesday, Jan 12, 2010
MARC has affirmed the rating of Perwaja Steel Sdn Bhd’s (Perwaja) RM400.0 Million Murabahah Medium Term Notes (MMTN) Programme at AID and revised its rating outlook to stable from developing. The affirmed rating and revised rating outlook reflects MARC’s expectations of restored profitability and cash flow generation with the improving steel price environment. Perwaja’s financial...

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Wednesday, Feb 25, 2009
MARC has affirmed the rating of Perwaja Steel Sdn Bhd’s (Perwaja) RM400.0 Million Murabahah Medium Term Notes (MMTN) Programme at AID and revised its outlook to developing from stable. The affirmed rating reflects Perwaja’s competitive strength as a major local producer of direct reduced iron (DRI) and its strategic importance to parent company, Kinsteel Berhad, which has a long term r...

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Wednesday, Feb 06, 2008
MARC has issued this rating update in connection with Kinsteel Berhad’s (Kinsteel) announcement on the proposed listing of Perwaja Steel Sdn Bhd (Perwaja). MARC is of the opinion that there is no immediate impact on the MARC-2ID / AID and the AID ratings of Kinsteel’s RM100.0 million Murabahah Commercial Paper / Medium Term Notes Programme (Murabahah CP/ MTN) and RM100.0 million Muraba...

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Friday, Jul 20, 2007
MARC has affirmed the long term rating of Perwaja Steel Sdn Bhd’s (Perwaja) RM400.0 Million Murabahah Medium-Term Notes (MMTN) Programme at AID which reflects its strong position as a domestic direct reduced iron (DRI) producer, expectations for continued improvement in credit quality as the company benefits from higher steel prices and production volumes in addition to efficiency initiative...

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