MARC has affirmed its long-term and short-term financial institution ratings of AAA/MARC-1 with a stable outlook on Malayan Banking Berhad (Maybank). Maybank is the major operating entity and financial holding company of the Maybank Group which is engaged in conventional and Islamic banking, insurance, takaful and investment services. The ratings are underpinned by Maybank’s sizeable core co...

MARC has affirmed its debt ratings of AAA/AAAID on The Export-Import Bank of Korea’s (KEXIM) conventional and Islamic Medium Term Notes (MTN) Programmes with a combined nominal value of RM3.0 billion and AAA on KEXIM’s RM1.0 billion MTN Programme. The outlook for all the ratings is stable. The ratings are sustained by the strong implicit support of the South Korean government given KEX...

MARC has affirmed its AA rating on State Bank of India’s (SBI) Senior Unsecured Bonds of RM500 million with a stable outlook. The rating reflects SBI’s very high systemic importance as the largest bank in India, its robust market franchise, stable income generation, strong liquidity position and the likelihood of external support from its majority shareholder, the Government of India (...

MARC has affirmed its AAA issuer rating on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook. The affirmed rating takes into account CGC’s sound capitalisation and prudent investment practices as well as the changes that CGC has embarked on in recent years to transform itself into a commercially driven institution. CGC’s adoption of a risk-adjusted pricing method...

MARC has downgraded its insurer financial strength (IFS) rating on BEST RE (L) Limited (BEST RE) to A+ from AA and revised the outlook to negative from stable. The rating action reflects recent underwriting losses due in part to higher catastrophe losses arising from Thai floods in 2011 and the weakening of its capital adequacy metrics. The current rating incorporates risk-mitigating initiatives u...

MARC has downgraded its insurer financial strength (IFS) rating on BEST RE Family (L) Limited (BEST RE Family) to A+ from AA with a stable outlook, to reflect the rating agency's revised approach of notching up the family takaful operator's standalone credit assessment on account of parental support uplift from its ultimate holding company, Islamic Arab Insurance Co (IAIC or SALAMA). MARC's previo...

MARC has affirmed its ratings of A+, A and BBB+ on the outstanding Class A, B and C notes issued by RCE Advance Sdn Bhd (RCEA) under its RM420 million Fixed Rate Medium Term Notes (MTN) Programme. The ratings affect RM75 million of outstanding notes under Class A, RM80 million under Class B and RM60 million under Class C. The outlook on the ratings is stable. RCEA is a special purpose financing ve...

MARC has assigned long-term and short-term counterparty credit ratings of AAA/MARC-1 to Credit Guarantee and Investment Facility (CGIF) with a stable outlook. CGIF was established as a trust fund of the Asian Development Bank in November 2010 by the ten member countries of the Association of Southeast Asian Nations (ASEAN) and Japan, the People’s Republic of China (PRC) and Korea (ASEAN+3) a...

MARC has affirmed its AAA rating on Woori Bank’s RM1.0 billion Medium Term Notes (MTN) Programme with a stable outlook. The affirmed rating reflects the strength and resilience of the bank’s strong banking franchise in the Republic of Korea (Korea), good earnings generation capacity, sound funding profile and capitalisation, as well as ongoing upgrading of its risk management systems a...

MARC has affirmed its long-term and short-term financial institution ratings of AAA/MARC-1 on The Bank of East Asia, Limited (BEA), Hong Kong. The ratings are based on MARC's assessment of the bank's capacity to meet its financial obligations on the Malaysian national rating scale. The outlook on the ratings is stable. BEA’s current ratings reflect its long-established banking franchise in H...