MARC has affirmed the A and MARC-2 ratings of RCE Premier Sdn Bhd’s (RCEP) RM45.0 million Fixed Rate Serial Bonds and up to RM50.0 million Commercial Papers (CP) programme, respectively. 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 ...

MARC has assigned a rating of AA- to CIMB Bank Berhad’s (CIMB Bank) up to RM4.0 billion Nominal Value Non-Innovative Tier 1 Stapled Securities (Stapled Securities) Programme. The rating carries a stable outlook. The funding programme entails issuance of Stapled Securities comprising non-cumulative perpetual capital securities (Capital Securities) issued by CIMB Bank stapled to an equivalent ...

MARC has affirmed the AAA rating on ABS Samudera Receivables Berhad’s (ASRB) RM25.0 million Notes Series-A under its RM250.0 million Medium Term Notes (MTN) Programme. The affirmation reflects the satisfactory performance of the underlying consumer receivables pool and the sufficient level of credit enhancement provided by excess spread and liquidity reserves available to support the AAA-rat...

MARC has assigned a rating of AA- to CIMB Bank Berhad’s (CIMB Bank) Innovative Tier 1 Capital Securities (IT-1 Securities) with nominal value of up to RM1.0 billion. The rating, which is two notches lower than CIMB Bank’s Financial Institution Rating of AA+, reflects the subordination of the IT-1 Securities relative to unsecured senior debt and subordinated debt obligations of the bank...

MARC has affirmed the AAA/AAAID and MARC-1/MARC-1ID ratings on Cagamas Berhad’s (Cagamas) Conventional and Islamic Medium Term Note Programme of up to RM40.0 billion (MTN Programme) and its Conventional and Islamic Commercial Paper Programme of up to RM20.0 billion (CP Programme) (collectively known as the Programmes), respectively.  The ratings carry a stable outlook. The ratings refle...

MARC has upgraded its long-term Financial Institution rating of CIMB Bank Berhad (CIMB Bank) to AA+ from AA and its RM667 million Irredeemable Convertible Unsecured Loan Stocks’ (ICULS) rating to AA from AA-. The upgrade reflects MARC’s expectation of continued improvement in CIMB Bank’s competitive position following the successful integration of CIMB Bank and Southern Bank Berh...

MARC has assigned a AAA rating to Woori Bank’s (Woori) RM1.0 billion Medium Term Notes Programme (MTN). The rating carries a stable outlook. The rating reflects Woori’s above average competitive position, underpinned by its strong retail and corporate franchises in Korea and extensive network of branches, its solid asset quality and consistent financial performance, good capital base a...

MARC has assigned a AA+ rating to the proposed senior unsecured ringgit bonds to be issued by State Bank of India (SBI). The rating reflects the bank’s position as the largest commercial bank in India, amidst consolidation in the Indian banking system and intensifying domestic competition from private banks and other public sector banks, and its strong financial profile, underpinned by moder...

MARC has upgraded the ratings on Hong Leong Financial Group Berhad’s (HLFG) RM800 million commercial papers and medium term notes (CP/MTN) facilities [2007 to 2014], and RM300 million CP/MTN facilities [2002 to 2009] to AA-/MARC-1 from A+/MARC-1. The ratings outlook is stable. The upgrade reflects the consistent and improving profitability of the financial services group which has allowed HL...

MARC has assigned long term and short term financial institution ratings of AA+/MARC-1 to Kuwait Finance House (Malaysia) Berhad (KFHMB). The ratings carry a stable outlook. The ratings of KFHMB are anchored to MARC’s AAA/MARC-1 financial institution ratings on Kuwait Finance House KSC (KFH) on the basis of an explicit intent of support extended to KFHMB by KFH. KFH’s ratings reflect i...