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MARC has withdrawn its A- rating on Perdana Petroleum Bhd’s (PPB) RM400 million Nominal Value Secured Serial Bonds (bonds) with immediate effect. The rating withdrawal follows the early redemption of RM70 million of outstanding bonds on September 7, 2012 as confirmed by the facility agent, United Overseas Bank (Malaysia) Berhad.Upon the withdrawal of the rating, MARC will no longer carry out...
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MARC has issued a rating update on its A- rating on Perdana Petroleum Berhad’s (Perdana Petroleum) RM400 million Nominal Value Secured Serial Bonds following its announced divestment of its 26.9% equity stake in Petra Energy Bhd (PEB). Proceeds raised from the proposed divestment will be applied toward the early redemption of RM70 million of outstanding bonds, of which RM35 million is due on...
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MARC has affirmed its rating of A- on Perdana Petroleum Berhad's (Perdana Petroleum, formerly known as Petra Perdana Berhad) Dual Currency Revolving Programme with a negative outlook. The rating action affects outstanding secured serial bonds of RM105 million issued under Tranche 1 of the programme.The bonds are the company's remaining obligations under the programme with the November 2011 repayme...
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