MARC has upgraded its long-term financial institution rating on CIMB Bank Bhd (CIMB Bank) to AAA from AA+, reflecting the bank’s resilient earning streams, improved asset quality, adequate capitalisation and strong business franchise in Malaysia. MARC had earlier placed the long term financial institution rating of CIMB Bank on MARCWatch Positive on April 20, 2010 on expectation that the ban...

MARC has affirmed its AA-/MARC-1 financial institution ratings on AmInvestment Bank Berhad (AmInvestment). The affirmed ratings reflect the consolidated strength of the commercial and investment banking franchises of AMMB Holdings Berhad (AMMB Holdings) Group and its improving financial profile in addition to the strong operational support received from its major shareholder and strategic partner,...

MARC has affirmed the MARC-2 ratings of RCE Premier Sdn Bhd’s (RCEP) RM50.0 million Commercial Papers (CP) programme. The ratings carry a stable outlook. The affirmations are premised on the satisfactory performance of the securities’ underlying portfolios of receivables, and the maintenance of the minimum collateral cover of 1.3 times, supported by an undertaking from RCE Marketing Sd...

MARC has affirmed the ratings of RCE Advance Sdn Bhd’s (RCEA) RM420.0 million Fixed Rate Medium Term Notes programme (Facility) at A+ for RM240.0 million Class A; A for RM120.0 million Class B; and BBB+ for RM60.0 million Class C notes. The ratings carry a stable outlook. The affirmation and stable outlook are premised on the satisfactory performance of the securities’ underlying portf...

MARC has affirmed its AA+/ MARC-1 financial institution ratings on CIMB Bank Bhd (CIMB Bank) with a stable outlook. At the same time, MARC has also affirmed all corporate debt ratings assigned to CIMB Bank with a stable outlook. The full list of the affirmed corporate debt ratings are given at the end of this section. CIMB Bank’s ratings reflect its adequate capitalisation, stable earning st...

MARC has affirmed its AAA issuer rating on Credit Guarantee Corporation Malaysia Berhad (CGC). The rating reflects CGC’s important policy role in promoting access to financing for small and medium enterprises (SMEs), as well as its majority-ownership by Bank Negara Malaysia (BNM). The rating also takes into consideration the credit guarantee provider’s strong capitalisation, adequate l...

MARC has downgraded its rating on MNRB Holdings Berhad’s (MNRB) Islamic Medium Term Notes (IMTN) Issuance Programme of RM200 million to AA-IS from AAIS. The rating downgrade reflects MARC’s concerns with regard to a weakening of MNRB’s liquidity profile in addition to reduced cash flow prospects arising from a perceived trend toward lower dividend payouts by its main operating su...

MARC has affirmed its AAA/AAAID and MARC-1/MARC-1ID ratings on Cagamas Berhad’s (Cagamas) Conventional and Islamic Medium Term Note Programme of up to RM40 billion (MTN Programme) and its Conventional and Islamic Commercial Paper Programme of up to RM20 billion (CP Programme) respectively. The ratings also take into account Cagamas’ status as Malaysia’s sole national mortgage cor...

MARC has affirmed Kuwait Finance House (Malaysia) Berhad’s (KFHMB) long-term and short-term financial institution ratings at AA+/MARC-1. KFHMB’s ratings are based on MARC’s top-down approach in its assessment of KFHMB’s linkage with its parent, Kuwait Finance House K.S.C. (KFH) and the affirmation of KFH’s financial institution ratings at AAA/MARC-1. KFH’s ratin...

MARC has affirmed its AA+ rating on State Bank of India’s (SBI) Senior Unsecured Malaysian Ringgit (MYR) Bonds (2008/2013) of MYR500 million. The rating reflects SBI’s systemically important position as the largest bank in India, its strong market franchise, resilient core earnings and good liquidity position. The rating also takes into account the bank’s ownership structure and ...