Press Releases - Category: Industrial Products
Displaying 1-7 of 7 results.
Friday, Mar 20, 2015
MARC has withdrawn its BBB rating on Press Metal Berhad’s outstanding 2011/2019 Redeemable Convertible Secured Loan Stocks (RCSLS). Press Metal had issued RM320.5 million RCSLS in 2011 and as at February 12, 2015, the outstanding amount stood at RM2.2 million. The rating withdrawal follows the early redemption of the outstanding amount and cancellation of the same on March 18, 2015.  U...

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Thursday, Jul 03, 2014
MARC has affirmed the rating of BBB on integrated aluminium producer Press Metal Berhad’s (Press Metal) RM320.5 million Redeemable Convertible Secured Loan Stocks (RCSLS). The rating outlook is maintained at negative. The rating action reflects the difficult operating environment for aluminium manufacturers, the group’s continued weak liquidity position and its significant leverage pos...

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Thursday, Jan 02, 2014
MARC has removed the MARCWatch Negative placement on the rating of Press Metal Berhad’s (Press Metal) Redeemable Convertible Secured Loan Stock (RCSLS) and concurrently affirmed RCSLS’ rating at BBB with a negative outlook. The rating was placed on MARCWatch Negative on July 3, 2013 to enable the rating agency to assess the impact of the damage on Press Metal’s aluminium smelting...

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Thursday, Oct 03, 2013
MARC maintains Press Metal Berhad’s (Press Metal) BBB rating on the outstanding Redeemable Convertible Secured Loan Stock (RCSLS) with detachable warrants on MARCWatch Negative. The rating was first placed on MARCWatch Negative on July 3, 2013 following the shutdown of Press Metal’s aluminium smelting plant in Mukah, Sarawak, as a result of damage suffered from the recent power outage ...

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Wednesday, Jul 03, 2013
MARC has downgraded its rating on Press Metal Berhad’s (Press Metal) outstanding RM317.5 million Redeemable Convertible Secured Loan Stocks (RCSLS) with detachable warrants from A- to BBB. Concurrently, the rating has been placed on MARCWatch Negative pending greater clarity on the credit impact from the unexpected shutdown of Press Metal’s aluminium smelting plant in Mukah, Sarawak, d...

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Thursday, Jul 05, 2012
MARC has affirmed its rating on Press Metal Berhad’s (Press Metal) outstanding RM320.5 million Redeemable Convertible Secured Loan Stocks (RCSLS) with detachable warrants at A- with a stable outlook.The proceeds from the RCSLS issuance had been on-lent to the issuer's subsidiary, Press Metal Bintulu Sdn Bhd (PMBintulu), to part-finance the construction of an aluminium smelting plant at Samal...

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Friday, Jul 22, 2011
MARC has assigned a rating of A- to Press Metal Berhad’s (Press Metal) RM323.7 million Redeemable Convertible Secured Loan Stocks (RCSLS) with 147.2 million detachable warrants (warrants). The outlook for the rating is stable.  The rating incorporates the aluminium producer’s exposure to fluctuation in pricing and volume in domestic and export markets, particularly for its primary...

This article has been viewed 1530 times.