Malaysian Rating Corporation Berhad (MARC) has downgraded the corporate debt rating of HVD Holdings Sdn Bhd’s (HVD) RM70.0 million Revolving Underwritten Facility (RUF) to ‘D’ from MARC-4. The downgrade follows HVD’s failure to meet a scheduled principal payment of RM35.0 million, due 11 February 2002, under the RUF.The total outstanding principal under the RUF stands at RM60.0 million, w...