The long term ratings of MRCB Southern Link’s RM845mil secured senior sukuk (2008/2025) and RM199mil junior sukuk (2008/2027) have been downgraded. RAM Rating Services Bhd said the ratings of the two sukuk were lowered to C3 from BB3 and C1 but remained on negative Rating Watch.
MRCB Southern Link is a funding conduit for the 8.1-km Eastern Dispersal Link Expressway (EDL) in Johor Baru. Although it opened to the public on April 1 this year, the Government had stated EDL would not start collecting toll despite the terms of its concession agreement………………………………………..Full Article: Source