Tuesday 19, March 2013 by Isla MacFarlane

MARC downgrades Alam Maritim Resources’ Sukuk

MARC has downgraded its ratings on Alam Maritim Resources' (Alam Maritim) MYR 500 million Sukuk Ijarah Medium Term  Notes (Sukuk Ijarah MTN) and MYR 100 million Murabahah Commercial Papers/Murabahah Medium Term  Notes (MCP/MMTN) programmes to A+IS and MARC-2ID /A+ID from AA-IS and MARC-1ID /AA-ID respectively, and revised the outlook of both ratings to stable from negative; the rating action affects MYR 365 million of outstanding notes issued under the rated programmes.

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