Apr 25, 2012 -
MARC has removed its MARC-4ID/BBID ratings on Maxtral Industry Berhad’s (Maxtral) RM20.0 million Murabahah Underwritten Notes Issuance/Murabahah Medium Term Notes (MUNIF/MMTN) programme from MARCWatch Negative and subsequently downgraded both ratings to D. The downgrade reflects the missed outstanding principal payment of RM10.0 million on April 23, 2012, following the expiry of the two additional working days extension for payment that noteholders had earlier consented to. No event of default has been declared as of the date of this press announcement.
Contacts:
Goh Shu Yuan, +603-2082 2268/ shuyuan@marc.com.my;
Sharidan Salleh, +603-2082 2254/ sharidan@marc.com.my.
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