MARC SUSPENDS ITS RATING ON TRINITY CORPORATION BERHAD (FORMERLY KNOWN AS TALAM CORPORATION BERHAD)

Feb 27, 2012 -

MARC has suspended its B+ID rating on Trinity Corporation Berhad's (Trinity) Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDS) following Trinity’s failure to provide important information for the rating agency to carry out its rating surveillance. The outstanding amount of the Settlement BaIDS stands at RM98.2 million as of February 24, 2012.

MARC is unable to carry out its rating surveillance in the absence of Trinity’s business plans, in particular its asset divestment plans, proceeds from which are expected to fund its payment obligations for the Settlement BaIDS. The rating agency may reinstate the suspended rating if the information required becomes available. Alternatively, MARC will likely withdraw the rating within the next 90 days if the requested information is not forthcoming.

Contacts:
Thian Chow Di, +603-2082 2280/ chowdi@marc.com.my ;
Rajan Paramesran, +603-2082 2233/ rajan@marc.com.my .