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MARC has placed its A+IS(cg) issue rating on KMCOB Capital Bhd's (KMCOB) RM343.1 million Sukuk Murabahah Medium Term Notes (MTN) programme on MARCWatch Negative. The rating actions affect RM302.55 million of outstanding notes issued by KMCOB. KMCOB is the funding vehicle of Scomi Oilfield Limited (SOL), which in turn is a wholly-owned subsidiary of Scomi Group Bhd (Scomi). MARC rates the notes bas...
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MARC has affirmed its rating on KMCOB Capital Bhd's (KMCOB) RM343.1 million Sukuk Murabahah Medium-Term Notes Programme of A+IS(CG) and revised its rating outlook to negative from stable.KMCOB is the funding vehicle of the Scomi Oilfield Limited (SOL) group. The sukuk benefits from corporate guarantee from Scomi Oiltools Bermuda Limited (Scomi Oiltools), the present immediate holding company of Sc...
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MARC has withdrawn its rating of A+ID(cg) on KMCOB Capital Berhad's (KMCOB) RM630 million Murabahah Medium-Term Notes Programme with immediate effect. The rating withdrawal follows the full redemption of outstanding notes under the programme on December 14, 2011 and the cancellation of the programme as confirmed by the facility agent.Contacts: Sabesh Parameswaran, +603-2082 2260/ sabesh@marc.com.m...
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MARC has assigned a final rating of A+IS(cg) with a stable outlook to KMCOB Capital Berhad's (KMCOB) RM343.1 million Sukuk Murabahah Programme upon the receipt of final documentation for its forthcoming notes issuance. The terms and conditions of the notes have not changed in any material way from the draft documents on which the earlier preliminary rating of A+IS(cg) was based.Full details on the...
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MARC has assigned a preliminary rating of A+IS(cg) to KMCOB Capital Berhad's (KMCOB) proposed RM343.1 million Sukuk Murabahah Medium-Term Notes programme (sukuk) with a stable outlook pending final documentation review. The proposed facility has the benefit of corporate guarantees from Scomi Oiltools and its existing and future principal subsidiaries and the listed entity that may be incorporated ...
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MARC has taken the following actions on issue ratings of Scomi Group Berhad (Scomi) and funding vehicle KMCOB Capital Berhad (KMCOB) after removing the same from MARCWatch Negative: 1) Lowered its issue rating on Scomi's RM500 million Medium Term Notes (MTN) Programme to A+ from AA-; and 2) Lowered its issue rating on KMCOB's RM630 million Murabahah Medium Term Notes to A+I...
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MARC said today that it had placed its AA-ID(cg) issue rating on KMCOB Capital Bhd's (KMCOB) RM630 Million Murabahah Medium Term Notes (MTN) Programme on MARCWatch Negative. It also placed its AA- issue rating on Scomi Group Bhd's (Scomi) RM500 Million MTN Programme on MARCWatch Negative. The rating actions affect RM480 million of outstanding notes issued by KMCOB and RM200 million of outstanding ...
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MARC has affirmed its AA-ID(CG) rating on KMCOB Capital Berhad's (KMCOB) RM630 million Murabahah Medium Term Notes and revised its rating outook to negative from stable. KMCOB is ultimately held by Scomi Group Bhd (Scomi) through 76% owned subsidiary Scomi Oilfield Limited (SOL). SOL has guaranteed the obligations of KMCOB under the rated facility. The rating action is concurrent with MARC's affir...
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MARC has removed KMCOB Capital Berhad’s (KMCOB) RM630 million Murabahah Medium Term Notes (MTNs) from MARCWatch Developing. At the same time, MARC has affirmed its AA-ID(CG) debt rating on KMCOB with a Stable Outlook following the recent completion of Scomi Oilfield Limited’s (SOL) debt rationalisation exercise. KMCOB Capital is a funding vehicle for SOL, and the MTNs are ultimately gu...
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MARC continues to maintain KMCOB Capital Berhad's (KMCOB Capital) AA-ID(CG) rating for its RM630 million Murabahah Medium Term Notes (MTN) facility, on MARCWatch Developing where it has been placed since December 30, 2009. MARC expects to resolve the Developing Watch within the next three months upon completion of Scomi Group Berhad's (Scomi) recently announced debt rationalisation exercise for Sc...
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