MARC has affirmed its AAA financial institution rating on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook. The affirmed rating incorporates a high systemic support uplift from CGC’s standalone credit profile based on its public policy role as a development financial institution (DFI) and its majority ownership by the central bank, Bank Negara Malaysia. CGC facilita...

MARC has affirmed national mortgage corporation Cagamas Berhad’s (Cagamas) debt issue ratings as follows: Conventional and Islamic Commercial Paper (CP/ICP) Programmes with an aggregate combined limit of RM20.0 billion at MARC-1/ MARC-1ID respectively; Conventional and Islamic Medium-Term Notes (MTN/IMTN) Programmes of up to RM40.0 billion at AAA / AAAID respectively; and ICP and I...

MARC has affirmed its long-term and short-term counterparty credit ratings of AAA / MARC-1 on Credit Guarantee and Investment Facility (CGIF) with a stable outlook. The ratings are based on Malaysia’s national rating scale. The ratings affirmation reflects CGIF’s strong capital position and conservative liquidity management, underpinned by its sound policy guidelines and governa...

MARC has affirmed its long-term and short-term financial institution ratings of AAA/MARC-1 on Hong Kong-based The Bank of East Asia, Limited (BEA). The outlook on the ratings is stable. The affirmed ratings reflect the bank’s capacity to meet its financial obligations on the Malaysian national rating scale. MARC views BEA’s healthy capital position, strong earnings track record and fundi...

MARC has assigned corporate credit ratings of AA+/ MARC-1 to CIMB Group Holdings Berhad (CIMB Group) and concurrently assigned a final rating of AA to the group’s RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme (sub-debt programme). The outlook on all of the ratings is stable. The one-notch rating differential between CIMB Group’s long-term corporate credit rating and...

MARC has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) financial institution (FI) and RM2.0 billion Tier 2 Junior Sukuk (Junior Sukuk) programme ratings at AAA/MARC-1 and AA+IS respectively. Concurrently, MARC has assigned a final rating of AA+IS to CIMB Islamic’s proposed RM5.0 billion Basel III-compliant Tier 2 Junior Sukuk (proposed Junior Sukuk) programme. The outlook on all ratings ...

MARC has affirmed the long-term and short-term financial institution (FI) ratings on CIMB Bank Berhad (CIMB Bank) at AAA / MARC-1 and accordingly affirmed the ratings on all its corporate debt issuances. In accordance with MARC’s general notching policy, the ratings on CIMB Bank’s existingsubordinated debt and hybrid securities are notched down from the bank’s FI rating by one or t...

MARC has affirmed Kuwait Finance House (Malaysia) Berhad's (KFHMB) long-term and short-term financial institution (FI) ratings of AA+/MARC-1. The outlook on the ratings is stable. KFHMB’s long-term rating is notched down from the ratings of its parent Kuwait Finance House K.S.C. (KFH) in accordance with MARC’s approach to rating subsidiaries of foreign banks. The rating agency has affirmed th...

MARC has affirmed financial institution (FI) ratings of A / MARC-1 to Bank Muamalat Malaysia Berhad (Bank Muamalat) and concurrently affirmed the AIS rating on the Islamic Senior Notes Programme (Senior Sukuk) of up to RM2.0 billion. The outlook on the ratings is stable. MARC notes that Bank Muamalat and Malaysia Building Society Berhad (MBSB) have received an approval from Bank Negara Malaysia (...

MARC has assigned a AAA rating on Malayan Banking Berhad’s (Maybank) proposed Senior Medium-Term Note (MTN) programme of up to RM10.0 billion in nominal value. The outlook on the rating is stable. The rating on the proposed MTN is equalised to Maybank’s financial institution long-term rating of AAA/Stable premised on the seniority of the MTN. Maybank’s financial institution ratings which we...