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Article: MARC confirms at AID/MARC-2ID ratings on Emas Kiara's notes.
- Article from:
- ADP Debt News
- Article date:
- August 31, 2009
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(ADPnews) - Aug 31, 2009 - Malaysian Rating Corp (MARC) said Friday it confirmed at AID and MARC-2ID the ratings on the notes issued by local geosynthetic maker Emas Kiara Industries Bhd (KUL:7189).
The notes include the MYR 80 million (USD 22.7m/EUR 15.9m) partially underwritten Murabahah notes issuance facility/Islamic medium-term notes issuance facility (MUNIF/IMTN).
Simultaneously, the agency changed the rating outlook to "developing" from "stable".
MARC said that the outlook revision is due to the company's increased business risk exposure as reflected by its recent foray into the less-developed and strife-torn north-eastern Indian state of ...