TEXT-Malaysia's MARC downgrades Tracoma Holdings


(The following statement was released by the rating agency) KUALA LUMPUR, Jan 28 - Malaysian Rating Corp (MARC) has downgraded the rating of automotive parts supplier Tracoma Holdings Berhad's (Tracoma) 100 million ringgit Al Bai' Bithaman Ajil Islamic Debt Securities (BaIDS) to CID from BID to reflect our expectation that no payment will be made on its first BaIDS series of 50 million ringgit maturing on January 28, 2009. Concurrently, we have placed the lowered rating on MARCWatch ...

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