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”.

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