SINGAPORE (Oct 13): Singapore's embattled offshore and marine firms are not likely to enjoy some miraculous recovery any time soon but are also not headed for crisis, as a battle that will the fittest survive takes shape, CIMB says in a note.

The bank argues that the credit picture of the sector is still reasonably comfortable, although some unrated companies look stretched.

As a whole, the sector's outlook is "cloudy, but no thunderstorm forecasted," CIMB says.

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