MARC downgrades MEX II’s RM1.3b sukuk

Maju Expressway (MEX) connects from Kuala Lumpur to Putrajaya, Cyberjaya, the Kuala Lumpur International Airport (KLIA) and the Low Cost Carrier Terminal (LCCT).

KUALA LUMPUR: Malaysian Rating Corporation (MARC) has downgraded its ratings on tolled-road concessionaire MEX II Sdn Bhd’s sukuk and junior bonds due to uncertainty of it securing additional funding.

In a statement on Tuesday, MARC downgraded the RM1.3bil Sukuk Murabahah programme to BBIS from BBBIS, and RM150mil junior Bonds to B from BB. The ratings remain on MARCWatch “negative”.

Limited time offer:
Just RM5 per month.

Monthly Plan


Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan


Billed as RM148.00/year

1 month

Free Trial

For new subscribers only

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!

Next In Business News

BMW Malaysia posts 8% 1Q sales growth, 26% EV surge
Australia central bank pondered raising rates on higher inflation risks
Star shares plunge as investors doubt validity of takeover bid by Hard Rock
SunCon remains on a growth trajectory
Ringgit falls, comments by Fed officials dampen rate cut hopes
Feytech's shares leap 37.5% on Main Market debut
Bursa ekes out slight gain as rally slows
Trading ideas: Hong Leong Bank, MAHB, Capital A, FGV, Coastal, SunCon, Binastra, Annum, Bright, Sunview
Oil eases on worries about US inflation, interest rates
US stocks mixed amid cautious Fed comments, gold shines

Others Also Read