10.04.2013 - MARC removes KMCOB’s sukuk rating, affirms A+IS rating
Malaysian Rating Corp Bhd (MARC) has removed KMCOB Capital Bhd’s sukuk rating from MARCWatch Negative and has affirmed a A+IS(cg) rating on the company. The outlook on the rating is negative. KMCOB is the funding vehicle of the Scomi Oilfield Ltd (SOL) group, the oilfield services unit of Scomi Group Bhd. The rating agency had earlier placed KMCOB’s sukuk rating on MARCWatch Negative on rising risks associated with Scomi’s delayed internal restructuring of its oilfield services business and SOL’s tight liquidity...............................................Full Article: Source
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