MARC has assigned its AAA rating on The Export-Import Bank of Korea’s (KEXIM) proposed RM1.0 billion Medium Term Notes (MTN) Programme.  At the same time, the agency has affirmed its AAA and AAAID ratings on KEXIM’s conventional and Islamic MTN Programmes with a combined nominal value of RM3.0 billion. The outlook on the ratings is stable. The ratings reflect KEXIM’s key rol...

MARC has downgraded its rating on MNRB Holdings Berhad’s (MNRB) RM200 million Islamic Medium Term Notes (IMTNs) to A+IS from AA-IS. The outlook is stable. The rating action reflects weakened holding company level financial metrics following two consecutive years of losses for the financial years ending March 31, 2010 (FY2010) and FY2011, and thin cash flow coverage measures. The lowered rati...

MARC has affirmed its AA-/MARC-1 financial institution ratings on AmInvestment Bank Berhad (AmInvestment). The rating outlook has been revised to stable from positive. MARC's ratings on the bank continue to reflect the consolidated credit profile of AmInvestment and its sister bank, AmBank (M) Berhad (AmBank), on account of AMMB Holdings Berhad's (AmBank Group) integrated universal banking strateg...

MARC has affirmed its long- and short-term financial institutions ratings of CIMB Bank Berhad (CIMB Bank) at AAA/MARC-1, reflecting the bank’s established franchise in Malaysia and strong credit profile, which is well supported by sound capital and liquidity management and resilient earnings streams. Considering the size as well as the bank’s systemic importance to the domestic financi...

MARC has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) long-term financial institution rating at AAA and concurrently affirmed its rating on CIMB Islamic’s Tier 2 Junior Sukuk Programme at AA+IS. The outlook on the long-term ratings is stable. CIMB Islamic’s financial institution rating is equated to parent CIMB Bank Berhad’s (CIMB Bank), on account of the high level o...

MARC has affirmed Kuwait Finance House (Malaysia) Berhad's (KFHMB) long-term and short-term financial institution ratings of AA+/MARC-1, following the rating agency's affirmation of the long-term and short-term financial institution ratings of its parent, Kuwait Finance House K.S.C. (KFH) at AAA/MARC-1. The outlook on the ratings of both institutions has been revised to stable from negative.The lo...

MARC has affirmed its issue rating of AAA on Oversea-Chinese Banking Corporation Limited's (OCBC) redeemable subordinated bond of up to RM2.5 billion with a stable outlook. The affirmed issue rating reflects the franchise strength of the financial services group, its relatively good earnings stability, and very strong regulatory capitalisation. MARC further notes that the continued deepening of OC...

MARC has affirmed its long-term and short-term financial institution ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF Investment). The affirmed ratings are underpinned by the bank’s commendable earnings performance, prudent risk management and well-positioned franchise in fixed income securities trading. The outlook on the ratings is stable.KAF Investment is one of the largest invest...

MARC has completed its review of ABS Samudera Receivables Berhad's (ASRB) rating on its Series A notes issued under its RM250.0 Medium Term Notes Programme and downgraded the rating to AA+ from AAA. The outlook is negative. The rating review had focused on a reassessment of credit protection for the RM5.0 million of outstanding notes, taking into account unexpected tax liabilities arising at the s...

MARC has assigned its MARC-1/AA ratings to Hong Leong Financial Group Berhad’s (HLFG) proposed Commercial Paper and Medium Term Notes programmes with a combined limit of RM1.8 billion. At the same time, MARC has also affirmed the ratings on HLFG’s RM800 million Commercial Paper and Medium Term Notes Programme (CP/MTN) at MARC-1/AA. The rating outlook for the long-term rating is stable....