MARC
WITHDRAWS ITS MARC-1ID/AAID RATINGS ON SERRISA SINAR BERHAD’S SENIOR NOTES ON
FULL REDEMPTION; PLACES JUNIOR NOTES RATING ON MARCWATCH POSITIVE
Jul 31,
2014 -
MARC has
withdrawn its ratings of MARC-1ID/AAID on Serrisa Sinar Berhad’s (Serrisa
Sinar) RM200.0 million Islamic Commercial Papers (ICP)/Islamic Medium-Term
Notes (IMTN) Facility (Senior Notes facility). The rating withdrawal follows
the full redemption of the outstanding RM5.0 million Senior Notes on July 21,
2014 and the cancellation of the facility on July 25, 2014 as confirmed by the
facility agent.
MARC’s
analytical coverage on Serrisa Sinar is now limited to the RM20.0 million Junior
IMTN Notes facility which expires on July 8, 2016. The Junior Notes facility
which is currently rated AA-ID with a stable outlook has been put on MARCWatch
Positive with a potential upgrade upon conclusion of our on-going review on the
facility.
Contacts:
Nicola Tan, +603-2082 2262/ nicola@marc.com.my;
Yap Lai Ken, +603-2082 2247 / laiken@marc.com.my.
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