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.
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