MARC has placed its AA-ID rating on KMCOB Capital Berhad’s (KMCOB Capital) RM630 million Murabahah Medium Term Notes (MTN) facility on MARCWatch Developing. The MARCWatch action is based on plans by KMCOB to refinance the outstanding MTN under the rated facility with a view to extend the maturity profile of its debt. The proposed refinancing exercise is expected to help KMCOB Capital to rest...

MARC has affirmed its AA- and AA-ID(cg) ratings on Scomi Group Bhd’s (Scomi) RM500 million Medium Term Notes Programme (MTN) and KMCOB Capital Berhad’s (KMCOB Capital) RM630.0 million Murabahah Medium Term Notes (MMTN) facility, respectively. At the same time, MARC has revised the outlook on both ratings to negative from stable. Scomi is primarily involved in the provision of oil and g...

MARC has affirmed its corporate debt ratings on Scomi Group Bhd (Scomi) and KMCOB Capital Berhad (KMCOB Capital). KMCOB Capital is an indirect wholly-owned subsidiary of Scomi Oilfields Limited (SOL), the investment holding company of Scomi’s oilfield services division, and was established as a special purpose vehicle to issue the RM630.0 million Murabahah Medium Term Notes (MMTN) as part of...

MARC said today that its AA-ID (cg) rating on KCB’s RM630 million Murabahah Medium Term Notes (MMTN) is not affected by Scomi Group Berhad’s (Scomi) announcement of a proposed divestment of 19.9% in the respective classes of the share capital in Scomi Oilfield Limited (Scomi Oilfield) to Standard Chartered Private Equity Limited for a total cash consideration of USD99.50 million.KCB is...

MARC has assigned a long-term rating of AA-ID (CG) to KMCOB Capital Berhad’s (“KCB”) RM630 million Murabahah Medium-Term Notes (“MMTN”) facility. The CG suffix depicts the Corporate Guarantee by its 100% shareholder KMC Oiltools (Bermuda) Ltd (“KMCOB”). Pursuant to the completion of a restructuring exercise, KMCOB will be the holding company of Scomi Group...