Friday, July 7, 2017

MARC has downgraded Alam Maritim Resources Berhad’s sukuk rating to DIS from BB+IS

Posted Date: July 7, 2017

MARC has downgraded Alam Maritim Resources Berhad’s sukuk rating to DIS from BB+IS following the missed sukuk principal payment of RM30.0 million on July 6, 2017 of the outstanding RM75.0 million under its Sukuk Ijarah Medium-Term Notes programme. Concurrently, the rating has been removed from MARCWatch Negative where it was placed on May 30, 2017. Alam Maritim is a major domestic offshore support vessel provider for the oil and gas industry.

Following the downgrade, MARC will no longer conduct rating surveillance on the programme.


Contacts:
Afeeq Amiri, +603-2717 2956/ afeeqamiri@marc.com.my,
Sharidan Salleh, +603-2717 2954/ sharidan@marc.com.my.

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