Press Releases - Category: Primary CLO
Displaying 21-30 of 44 results.
Friday, Feb 29, 2008
MARC has downgraded the ratings of Kerisma Bhd’s (Kerisma) RM870.0 million senior secured bonds, RM30.0 million mezzanine secured bonds and RM100.0 million subordinated secured bonds from AAA, AA and B to AA-, A- and C respectively. The downgrades are premised on further deterioration in the underlying loan portfolio resulting from a new obligor default and lowered credit enhancement levels ...

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Wednesday, Jan 30, 2008
MARC has placed long term ratings of Kerisma Berhad’s (Kerisma) RM870.0 million senior secured bonds, RM30.0 million mezzanine secured bonds and RM100.0 million subordinated secured bonds (Bonds) on MARCWatch Negative following a missed interest payment by an obligor belonging to the automotive industry. This most recent default leads MARC to believe that the AAA, AA- and B ratings of the se...

This article has been viewed 1318 times.
Monday, Jan 28, 2008
MARC has downgraded the rating of Aegis One Berhad’s (Aegis One) RM100.0 million subordinated secured bonds to D from B to reflect Aegis One’s failure to make ultimate payment of principal on the RM100.0 million subordinated secured bonds by its extended maturity date of December 2007. Aegis One had earlier, redeemed in full its RM900.0 million senior secured bonds in November 2007.As ...

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Thursday, Dec 06, 2007
MARC has withdrawn its AA rating on Aegis One Berhad’s (Aegis One) RM900.0 million senior secured bonds (senior bonds) following confirmation that the bonds were fully redeemed on November 30, 2007. Meanwhile, the B-rated RM100.0 million subordinated secured bonds (subordinated bonds) remain outstanding. Since the transaction was originated in 2002, the collateral pool experienced a total of...

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Friday, Nov 30, 2007
This rating update is issued following the partial redemption of Aegis One Berhad’s (Aegis One) AA rated RM900.0 million senior secured bonds (senior bonds) on 29 November 2007.  MARC received confirmation from the trustee that RM860.39 million of Aegis One’s senior bonds had been redeemed on 29 November 2007, following which approximately RM19.77 million senior bonds and RM100.0 ...

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Thursday, Nov 22, 2007
MARC has reaffirmed the ratings of CapOne Bhd’s (CapOne) RM600.0 million super senior class A-1 bonds  and RM250 million senior class A-2 bonds at AAA; RM50 million mezzanine bonds at AA and downgraded the rating of the RM100.0 million subordinated secured bonds to B from BB- respectively. The lowered rating on the subordinated bonds reflects a new obligor default and further deteriorat...

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Monday, Nov 19, 2007
This update on the performance of the Aegis One Berhad (Aegis One) collateral pool follows a single obligor rating downgrade to below BBB (lowest allowable rating) since MARC’s previous announcement in October 2007. All other obligor ratings remain unchanged.  To date 30.77% of the obligors (by loan amount) are rated in the BBB band. Notwithstanding the negative migration in the single ...

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Thursday, Oct 11, 2007
MARC has issued this update in connection with its ongoing monitoring and review of the Aegis transaction. Since the affirmation of the AA and B ratings of Aegis One Bhd’s (Aegis One) RM900.0 million senior secured bonds and RM100.0 million subordinated secured bonds (Secured Bonds) in February 2007, the underlying corporate loan portfolio has experienced further collateral deterioration. Tw...

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Monday, Jul 30, 2007
MARC has reaffirmed the rating of Kerisma Bhd’s (Kerisma) RM870.0 million senior secured bonds at AAA; affirmed the RM30.0 million mezzanine secured bonds at AA- and downgraded the rating of the RM100.0 million subordinated secured bonds to B from BB- respectively. The lowered rating on the subordinated bonds reflects a new obligor default and further deterioration in the collateral pool sin...

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Friday, Feb 09, 2007
MARC has affirmed the long-term ratings of Aegis One Bhd’s (Aegis One) RM900.0 million senior secured bonds and RM100.0 million subordinated secured bonds at AA and B respectively.  The affirmation is premised on the ability of the portfolio to currently withstand AA-stress scenario; the protective features, i.e. the overcollateralization and interest coverage ratios incorporated into t...

This article has been viewed 1153 times.