31.12.2010 - MARC downgrades Vastalux Capital's Sukuk
From Cpifinancial.net: MARC said it has downgraded its rating on Vastalux Capital Sdn Bhd's (VCSB) MYR 100 million Sukuk Musharaka facility to DIS from BB+IS following VCSB's failure to redeem the remaining outstanding MYR 3.96 million of Sukuk on the final redemption date of 23 December 2010. VCSB had redeemed MYR 21.04 million of MYR 25 million of outstanding Sukuk on 10 December 2010, prior to the final redemption date. VCSB had earlier proposed to restructure the Sukuk but had been unable to complete the restructuring prior to the final redemption date...........................................Full Article: Source
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