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Negative outlook for Borcos Shipping sukuk

Thu, 2010-09-30 16:20 — newsdesk

YARIKAT Borcos Shipping Sdn Bhd, Malaysia’s second-largest provider of offshore support vessels, had the A1 rating on RM160 million of Islamic medium-term notes placed on rating watch with a negative outlook at RAM Rating Services Sdn Bhd.
This reflects a decline in daily charter rates and low utilization of its offshore support vessels. A1 is RAM’s fifth-highest investment grade.

Source: 

http://www.btimes.com.my/articles/20100929155854/Article/