MARC has downgraded its ratings on Alam Maritim Resources’ (Alam Maritim) MYR 500 million Sukuk Ijarah Medium Term Notes (Sukuk Ijarah MTN) and MYR 100 million Murabahah Commercial Papers/Murabahah Medium Term Notes (MCP/MMTN) programmes to A+IS and MARC-2ID /A+ID from AA-IS and MARC-1ID /AA-ID respectively, and revised the outlook of both ratings to stable from negative; the rating action affects MYR 365 million of outstanding notes issued under the rated programmes.
MARC has downgraded its ratings on Alam Maritim Resources’ (Alam Maritim) MYR 500 million Sukuk Ijarah Medium Term Notes (Sukuk Ijarah MTN) and MYR 100 million Murabahah Commercial Papers/Murabahah Medium Term Notes (MCP/MMTN) programmes to A+IS and MARC-2ID /A+ID from AA-IS and MARC-1ID /AA-ID respectively, and revised the outlook of both ratings to stable from negative; the rating action affects MYR 365 million of outstanding notes issued under the rated programmes………………………………………..Full Article: Source