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NewsRAM reaffirms Silver Bird 'A2' rating
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RAM reaffirms Silver Bird 'A2' rating
by hlk Fri 22 Jul 2011, 21:18
RAM Rating Services Bhd has reaffirmed the 'A2' rating of Silver Bird Group Bhd's RM70 million serial bonds (2005/2012)
and 'A2/P2' rating of its RM30 million commercial paper/medium-term notes programme (2005/2012) with negative outlook.
In a statement today, RAM said the ratings reflected Silver Bird's
market position as the second-largest player in the domestic
premium-bread market, stable demand for its products, its extensive
distribution network and improved financial profile.
RAM head of consumer and industrial ratings, Kevin Lim, said the
agency maintained the negative rating outlook to reflect concerns over
Silver Bird's future ability to expand its market share.
"The group may also be exposed to new risks from its agreement with Federal Land Development Authority," he said.
It said the rating outlook maybe revised to stable if Silver Bird
was able to improve its market share, sustain its healthier margins and
adequately address the risk from its new business foray. -- Bernama
and 'A2/P2' rating of its RM30 million commercial paper/medium-term notes programme (2005/2012) with negative outlook.
In a statement today, RAM said the ratings reflected Silver Bird's
market position as the second-largest player in the domestic
premium-bread market, stable demand for its products, its extensive
distribution network and improved financial profile.
RAM head of consumer and industrial ratings, Kevin Lim, said the
agency maintained the negative rating outlook to reflect concerns over
Silver Bird's future ability to expand its market share.
"The group may also be exposed to new risks from its agreement with Federal Land Development Authority," he said.
It said the rating outlook maybe revised to stable if Silver Bird
was able to improve its market share, sustain its healthier margins and
adequately address the risk from its new business foray. -- Bernama
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