MARC has affirmed Prima Uno Berhad’s (Prima Uno) AAA-rated RM290.0 million Super Senior A, AAA-rated RM335.0 million Super Senior B, AAA-rated RM190.0 million Senior and AA-rated RM40.0 million Mezzanine secured bonds as well as BB-rated RM95.0 million subordinated secured bonds. The affirmed ratings reflect the satisfactory performance of the collateral pool as indicated by stable portfolio...

MARC has upgraded its long-term Financial Institution rating of CIMB Bank Berhad (CIMB Bank) to AA+ from AA and its RM667 million Irredeemable Convertible Unsecured Loan Stocks’ (ICULS) rating to AA from AA-. The upgrade reflects MARC’s expectation of continued improvement in CIMB Bank’s competitive position following the successful integration of CIMB Bank and Southern Bank Berh...

StrengthsStrong earnings momentum set to continue;Significantly improved asset quality measures;Capitalization to be sustained by strong earnings and sound capital management;Leading banking franchise supported by a comprehensive branch network; andExcellent track record of management in implementing value creation synergies.ChallengesTo establish itself as a regional universal banking group.Ratio...

MARC has assigned a rating of AA+ID(bg) to Aras Sejagat Sdn Bhd’s (“ASSB”) Bank Guaranteed Islamic Medium Term Notes (“BG IMTN”) of up to RM500.0 million. ASSB is a wholly-owned subsidiary of AirAsia Berhad (“AirAsia” or “the company”) and is a special purpose vehicle created to facilitate the issuance of the BG IMTN. The rating of the BG IMTN ...

MARC has assigned a AAA rating to Woori Bank’s (Woori) RM1.0 billion Medium Term Notes Programme (MTN). The rating carries a stable outlook. The rating reflects Woori’s above average competitive position, underpinned by its strong retail and corporate franchises in Korea and extensive network of branches, its solid asset quality and consistent financial performance, good capital base a...

MARC has assigned a AA+ rating to the proposed senior unsecured ringgit bonds to be issued by State Bank of India (SBI). The rating reflects the bank’s position as the largest commercial bank in India, amidst consolidation in the Indian banking system and intensifying domestic competition from private banks and other public sector banks, and its strong financial profile, underpinned by moder...

MARC has upgraded the ratings on Hong Leong Financial Group Berhad’s (HLFG) RM800 million commercial papers and medium term notes (CP/MTN) facilities [2007 to 2014], and RM300 million CP/MTN facilities [2002 to 2009] to AA-/MARC-1 from A+/MARC-1. The ratings outlook is stable. The upgrade reflects the consistent and improving profitability of the financial services group which has allowed HL...

MARC has assigned ratings of AAID /MARC-1ID and A+ID, respectively, to DHTI Capital Sdn. Bhd.’s (DCap) proposed issuance of up to RM110.0 million of Islamic commercial papers/Islamic medium term notes (Senior Notes) and up to RM10.0 million Junior Islamic medium term notes (Junior Notes) (collectively, ICP/IMTN Programme). The ratings reflect the credit quality of a rental payment stream fro...

MARC has assigned long term and short term financial institution ratings of AA+/MARC-1 to Kuwait Finance House (Malaysia) Berhad (KFHMB). The ratings carry a stable outlook. The ratings of KFHMB are anchored to MARC’s AAA/MARC-1 financial institution ratings on Kuwait Finance House KSC (KFH) on the basis of an explicit intent of support extended to KFHMB by KFH. KFH’s ratings reflect i...

MARC has assigned ratings of MARC-1ID /AAID and A+ID to Serrisa Sinar Berhad’s (SSB) RM200 million ICP/IMTN notes (Senior Notes) and RM20 million Junior IMTN (Junior Notes) (collectively, ICP/IMTN Facility). The ratings of the Senior Notes reflect the credit quality of the rental payment stream from creditworthy telecommunication companies (telcos) that is assessed to be MARC-1ID/AAID. The p...