MALAYSIA: MARC has downgraded its rating on the RM240 million (US$70 million) Bai Bithaman Ajil Islamic Securities (BAIS) to ‘BB+ID’ from ‘A+ID’ of Malaysian International Tuna Port (MITP) because the promised government capital injection has yet to materialize. The rating has been maintained on MARCWatch Negative since the 19th February 2009. The RM32 million (US$9.4 million) to ease MITP’s immediate liquidity constraints has yet to be provided despite the assurance given to the BAIS holders by the agriculture and agro-based....