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MARC downgrades Vastalux’s sukuk rating

Posted on 18 January 2010

From Btimes.com.my: Vastalux Capital Sdn Bhd, a unit of the Malaysian oil and gas services provider Vastalux Energy Bhd, had the credit rating on its RM100 million Islamic bond downgraded to AA- from A+ by Malaysian Rating Corp.

This is to reflect a perceived deterioration in the Vastalux group’s liquidity position, Malaysian Rating said in a report today, adding it is susceptible to cash flow pressures…………………………………..Full Article: Source

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