Rating action          MARC Ratings has assigned final ratings to Bank Muamalat Malaysia Berhad’s Sukuk Wakalah Programme of up to RM5.0 billion as follows:Senior Sukuk Wakalah at A+IS Tier-2 Subordinated Sukuk Wakalah at A-IS Additional Tier-1 Sukuk Wakalah (AT-1 Sukuk Wakalah) at BBBIS Concurrently, the rating agency has affirmed its financial insti...

Rating action          MARC Ratings has affirmed its financial institution (FI) ratings on CIMB Bank Berhad at AAA/MARC-1. Concurrently, the rating agency has also affirmed its rating of AA+ on the bank’s existing RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme. The ratings outlook is stable.Rationale   CIMB Bank’s high systemic imp...

Rating action             MARC Ratings has affirmed its long-term and short-term corporate credit ratings of AA+/MARC-1 on CIMB Group Holdings Berhad and its issue rating of AA on the group’s RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme. The ratings outlook is stable. The one-notch rating differential between CIMB Group’s lo...

Rating action          MARC Ratings has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) financial institution (FI) ratings of AAA/MARC-1/Stable. Concurrently, the rating agency has also affirmed its ratings on CIMB Islamic’s sukuk issuances as follows:RM10.0 billion Senior Sukuk Wakalah Programme (Sukuk Wakalah) at AAAIS/StableRM5.0 billion Tier 2 Junior Sukuk ...

Rating action          MARC has affirmed its long-term and short-term financial institution (FI) ratings of AAA/MARC-1 on Islamic Development Bank (IsDB). Concurrently, MARC Ratings has affirmed its rating of AAAIS on the Sukuk Wakalah programme of up to RM400 million issued by Tadamun Services Berhad, a trust established by IsDB. The ratings outlook is stable. The to...

Rating action           MARC Ratings has affirmed its ratings on Cagamas Berhad’s bonds and sukuk issuances as follows:MARC-1/MARC-1IS on Conventional and Islamic Commercial Papers (CP/ICP) programmes with a combined aggregate limit of RM20.0 billionAAA/AAAIS on Conventional and Islamic Medium-Term Notes (MTN/IMTN) programmes of up to RM60.0 billion The ratings...

Rating action     MARC Ratings has affirmed its long- and short-term financial institution (FI) ratings of AA+/MARC-1 on China Construction Bank (Malaysia) Berhad (CCBM). The ratings outlook is stable.     Rationale     The long-term FI rating of AA+ is notched down from the FI rating of its parent CCB of AAA, which MARC Ratings has based on publicly av...

Rating action          MARC Ratings has affirmed its long-term and short-term financing institution (FI) ratings of AA+/MARC-1 on Kuwait Finance House (Malaysia) Berhad’s (KFH Malaysia) with a stable outlook.RationaleThe long-term FI rating of KFH Malaysia is notched down from the rating of its parent Kuwait Finance House KSC (KFH) of AAA/Stable based on public info...

Rating action      MARC Ratings has affirmed its financial institution (FI) rating of AAA on Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank). Concurrently, the rating agency has affirmed its ratings of AAAIS /MARC-1IS on the bank’s Islamic Medium-Term Notes (IMTN) Programme of up to RM3.0 billion and Islamic Commercial Papers (ICP) Programme of up to RM1.0 bill...

Rating action           MARC Ratings has assigned ratings of MARC-1/MARC-1IS with a stable outlook to Cagamas Berhad’s Conventional and Islamic Commercial Papers (CCP/ICP) programmes with a combined aggregate limit of RM20 billion.RationaleCagamas’ status as the national mortgage corporation and its strategic role in the domestic financial system, underpinned...