Monday, 8 July 2013

MARC lowers Perwaja debt rating

Malaysian Rating Corp Bhd (MARC) has downgraded Perwaja Steel Sdn Bhd's RM400m murabahah medium-term notes. rating to BBID from BBB-ID, with the rating remaining on MARCWatch negative. The rating agency said in a press release that the downgrade and negative outlook reflected near-term liquidity concerns, poor operating performance and a significantly weaker financial profile. (Starbiz)

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