MARC Downgrades Alam Maritim Resources Islamic Sukuk Rating to DIS

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1. IB Press Release Service Published on :​ ​IslamicBanker.com Publications: ​https://www.islamicmarkets.com/publications MARC Downgrades Alam Maritim Resources Islamic Sukuk Rating to DIS 7 July 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. Organisation Name: News Type: Malaysian Rating Corporation Berhad (MARC RATING ANNOUNCEMENT Source: BNM Announcements Media Contact Afeeq Amiri +603-2717 2956 afeeqamiri@marc.com.my, Sharidan Salleh, +603-2717 2954 sharidan@marc.com.my Disclaimer: This communication is provided by Malaysian Rating Corporation Berhad (MARC) on the basis of information believed by MARC to be accurate and reliable as derived from publicly available sources or provided by the rated entity or its agents. MARC, however, has not independently verified such information and makes no representation as to the accuracy or completeness of such information. Any assignment of a credit rating by MARC is solely to be construed as a statement of its opinion and not a statement of fact. A credit rating is not a recommendation to buy, sell, or hold any security.