KUALA LUMPUR: RAM Rating Services Bhd has downgraded the rating of Lebuhraya Kajang-Seremban Sdn Bhd’s (LEKAS) RM633mil junior Sukuk Istisna’(Junior Sukuk).
The rating agency said on Tuesday it had lowered the junior Sukuk to C2/Stable/- (from B1/Negative/-) “to reflect a very low likelihood of the company meeting scheduled repayments” under the junior Sukuk as well as the instrument’s subordinated position.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!