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MARC has lowered its rating on Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd’s (SILK) Notional Amount of RM2.10 billion Al-Bai Bithaman Ajil Islamic Debt Issuance Facility (ABBA) from ‘B- ID’ to ‘D’. Concurrently, the rating has been removed from MARCWatch Negative where it had been initially placed in May 2007. The lowered rating reflects SILK’s inability to meet t...
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MARC has extended its MARCWatch Negative placement in respect of Sistem Lingkaran- Lebuhraya Kajang Sdn Bhd’s (“SILK”) rating of B-ID on its Notional Amount of RM2.10 billion Al-Bai Bithaman Ajil Islamic Debt Issuance Facility (“ABBA”) (2001/2021).MARC had placed SILK on MARCWatch Negative in May 2007 following confirmation from PB Trustee Services Sdn Bhd (the &ldquo...
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MARC has placed the B- ID long-term rating of Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd’s (SILK) Notional Amount of RM2.01 billion Al-Bai Bithaman Ajil Islamic Debt Issuance Facility (ABBA) (2001/2021) on MARCWatch Negative.The MARCWatch placement follows confirmation from PB Trustee Services Sdn Bhd (the Trustee) dated 3 May 2007 that SILK had failed the Annual Debt Service Cover Ratio (DSC...
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MARC has downgraded the long-term rating of Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd’s (SILK) Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) to B-ID from BB-ID previously, with a developing outlook. The steep downgrade follows from the continuous weak traffic volume at all the four tolls which remained below the revised traffic projections since 2006 (the latest traffic study d...
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MARC has downgraded the long-term rating of Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd’s (SILK) Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) to BB-ID with negative outlook. The downgrade is premised on the weak traffic volume at all the four tolls, which have been consistently and significantly below the initial traffic projections; the weak traffic forecasts (latest traffic study date...
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MARC has reaffirmed the long-term rating of Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd’s (SILK) Al-Bai’ Bithaman Ajil debt securities. The rating reflects the perceived strong demand for the Kajang Traffic Dispersal Ring Road to relieve severe traffic congestion in the Kajang District as a primary urban road linking the populous districts of Balakong, Sungai Long, Semenyih, Bangi, Kajang and Se...
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MARC has reaffirmed the long-term rating of Sistem-Lingkaran Lebuhraya Kajang Sdn Bhd’s (SILK) RM2.01 billion Al-Bai’ Bithaman Ajil debt securities at AID. The rating reflects the perceived strong demand for the Kajang Traffic Dispersal Ring Road to relieve severe traffic congestion in the Kajang District. Project demand is further underpinned by the Ring Road’s function as a primary urban ...
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The affirmation of the AID rating reflects the perceived strong demand for the Kajang Traffic Dispersal Ring Road to relieve severe traffic congestion in the Kajang District. Project demand is further underpinned by the Ring Road’s function as a primary urban road linking the populous districts of Balakong, Sungei Long, Semenyih, Bangi, Kajang and Serdang in the south-eastern corridor of the...
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Malaysian Rating Corporation Berhad (MARC) has assigned a long-term Islamic debt rating of AID (A, Islamic Debt Security) to Sistem-Lingkaran Lebuhraya Kajang Sdn Bhd’s (SILK) Notional Amount of RM2.01billion Al-Bai’ Bithaman Ajil Islamic Debt Securities Issuance Facility.The rating reflects the perceived strong demand for the Kajang Traffic Dispersal Ring Road to relieve severe traffi...
This article has been viewed 1373 times.