S&P Global, MARC downgrade Serba Dinamik

S&P said the downgrade reflects the rating agency’s view that the company would generally be in default of its debt obligations after it failed to meet its missed coupon payment within the stated grace period of 30 days.

KUALA LUMPUR: Engineering services company Serba Dinamik Holdings Bhd has been downgrade by S&P Global Ratings. The global rating agency downgraded Serba Dinamik to ‘D’ on the missed coupon payment of its sukuk.

It said the downgrade reflects the rating agency’s view that the company would generally be in default of its debt obligations after it failed to meet its missed coupon payment within the stated grace period of 30 days.