PETALING JAYA: The Malaysian Rating Corp Bhd (MARC) and RAM Rating Services Bhd have downgraded the ratings of debt notes issued by players in the Selangor water sector and cautioned of further downgrades in the absence of progress in industry restructuring.
MARC downgraded 10 Selangor water-related ratings, with some falling as much as three notches, and warned of further downgrades by year-end.
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