Serba Dinamik takes another hit

The downgrade follows the confirmation from Serba Dinamik that it missed the interest payment on its 2022 senior unsecured sukuk and entered a 30-day grace period.

PETALING JAYA: Fitch Ratings has downgraded Serba Dinamik Holdings Bhd’s long-term issuer default rating to C from CCC-, on the same day TA Securities Research ceased its coverage on the energy-service provider.

The downgrade follows the confirmation from Serba Dinamik that it missed the interest payment on its 2022 senior unsecured sukuk and entered a 30-day grace period.