MARC has withdrawn its AAA(fg) rating/stable outlook on KMCOB Capital Berhad’s (KMCOB) guaranteed serial bonds of up to RM320.0 million. The rating withdrawal is at the request of the issuer after obtaining its bondholders’ consent for a change in rating agency. MARC notes that KMCOB has proceeded to implement maturity extensions on the outstanding RM105.0 million under the rated bonds. ...

MARC has affirmed its AAA(fg) rating on KMCOB Capital Berhad’s (KMCOB) guaranteed serial bonds of up to RM320.0 million with a stable outlook. The rating and outlook reflect the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin), which carries MARC’s insurer financial strength rating of AAA and counterparty credit ratings of AAA/MARC-1. As at en...

MARC has affirmed its AAA(fg) rating on KMCOB Capital Berhad’s (KMCOB) guaranteed serial bonds of up to RM320.0 million with a stable outlook. The rating and outlook reflect the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin), which carries MARC’s insurer financial strength rating of AAA and counterparty credit ratings of AAA/MARC-1. As at e...

MARC has affirmed its AAA(fg) rating on KMCOB Capital Berhad’s (KMCOB) guaranteed serial bonds of up to RM320 million with a stable outlook. The rating and outlook are premised on the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin), which carries MARC’s insurer financial strength rating of AAA/stable. KMCOB is the funding vehicle of its...

MARC has affirmed its rating of AAA(fg) on KMCOB Capital Berhad’s (KMCOB) guaranteed serial bonds (Guaranteed Serial Bonds) of up to RM320 million with a stable outlook. The rating and outlook are premised on the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin), which carries MARC’s insurer financial strength rating of AAA/stable. As ...

MARC has withdrawn its A+IS(cg)  rating on KMCOB Capital Berhad’s (KMCOB) RM343.1 million Sukuk Murabahah Medium Term Notes (MTN) programme with immediate effect. The rating withdrawal follows the early redemption and full settlement of the programme on December 6, 2013 as confirmed by the facility agent, Hong Leong Investment Bank Berhad. MARC’s analytical coverage on KMCOB is no...

MARC has assigned a final rating of AAA(fg) to KMCOB Capital Berhad’s (KMCOB Capital) Guaranteed Serial Bonds of up to RM320 million (Guaranteed Serial Bonds) with a stable outlook. Upon review of the final documentation of the forthcoming bond issuance, MARC is satisfied that the terms and conditions of the Guaranteed Serial Bonds have not changed in any material way from the draft document...

MARC has issued this rating update as part of its ongoing surveillance process on its A+IS(cg) rating/Negative outlook on KMCOB Capital Berhad’s (KMCOB) Sukuk Murabahah Medium Term Notes programme (Sukuk Murabahah). Since MARC’s last rating action on KMCOB’s Sukuk Murabahah on April 9, 2013, the company has proposed to issue guaranteed serial bonds of up to RM320 million, to whic...

MARC has assigned a preliminary rating of AAA(fg) to KMCOB Capital Berhad’s (KMCOB) proposed guaranteed serial bonds of up to RM320 million (Guaranteed Serial Bonds) with a stable outlook. The assigned rating and outlook reflect an unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin) for the Guaranteed Serial Bonds. MARC currently rates Danajami...

MARC has removed its rating on KMCOB Capital Bhd’s (KMCOB) RM343.1 million Sukuk Murabahah Medium Term Notes (MTN) programme from MARCWatch Negative and affirmed  its A+IS(cg) rating on the company. The outlook on the rating is negative. KMCOB is the funding vehicle of Scomi Oilfield Limited (SOL), the oilfield services unit of Scomi Group Bhd (Scomi). MARC had earlier placed KMCOB&rsqu...