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MARC downgrades Offshore Works Capital’s Sukuk ratings

Posted on 17 January 2011

From Cpifinancial.net: MARC has downgraded its Sukuk ratings on Offshore Works Capital’s (OWC) MYR 200 million ($65.3 million) Sukuk Musyarakah and MYR 150 million ($49 million) Musyarakah Commercial Papers/Medium Term Notes Programme (MCP/MMTN) to A+IS and MARC-2IS /A+IS from AA-IS and MARC-1IS/AA-IS respectively.
The rating action resolves the MARC Watch Negative status of OWC’s rated obligations, which was initiated on November 12, 2010. The outlook on the ratings is stable……………………………………….Full Article: Source

 
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