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 assigned a AAA rating to Oversea-Chinese Banking Corporation Limited’s (OCBC) RM2.5 billion redeemable subordinated bonds. Although the proposed issuance is junior in ranking to deposits and senior debt, the well protected position of the rated debt in OCBC’s capital structure and OCBC’s strongly positioned senior unsecured rating within the ‘AAA’ rating cate...

MARC has assigned ratings of AAA & AAAID to The Export-Import Bank of Korea’s (KEXIM) Medium Term Notes Programmes for its conventional and Islamic issuances respectively, for a total combined nominal value of up to RM3.0 billion. The ratings reflect KEXIM’s strategic and public policy role in relation to the Republic of Korea’s (Korea) key export and import sectors, its gove...

MARC has upgraded its long-term rating on Pembangunan Leasing Corporation Sdn Bhd’s (PLC) Guaranteed Notes Issuance Programme (GNIP) to AA(bg) from A+(bg), and affirmed its MARC-1 (bg) short-term rating on the GNIP. The outlook on the ratings reflects the stable outlook on the guarantor’s rating. The GNIP is guaranteed by Bank Pembangunan Malaysia Berhad (BPMB), PLC’s holding com...

MARC has affirmed AmInvestment Bank Berhad’s (AmInvestment) financial institution ratings of AA-/MARC-1. The outlook of the ratings is stable. The affirmed ratings acknowledges AmInvestment’s sustainable franchise value, stable asset quality, high operating efficiency and sound risk management practices, as well as the very competitive environment for investment banking. The ratings in...

MARC has reaffirmed 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 reaffirmed ratings reflect the low defaults and delinquencies of the receivables backing the notes; and ample cash balances in the designated accounts ...

MARC has assigned a rating of AAIS  to MNRB Holdings Berhad’s (MNRB) Islamic Medium Term Notes (IMTN) Issuance Programme of RM200.0 million. The rating outlook is stable. This rating is reflective of the financial strength of its operating subsidiary, Malaysian Reinsurance Berhad (Malaysian Re) as well as MNRB’s strong consolidated capitalisation and financial flexibility. Partial...

MARC has assigned a rating of AAIS  to MNRB Holdings Berhad’s (MNRB) Islamic Medium Term Notes (IMTN) Issuance Programme of RM200.0 million. The rating outlook is stable. This rating is reflective of the financial strength of its operating subsidiary, Malaysian Reinsurance Berhad (Malaysian Re) as well as MNRB’s strong consolidated capitalisation and financial flexibility. Partial...

The ratings of RCE Premier Sdn Bhd’s (RCEP) RM45.0 million Fixed Rate Serial Bonds and up to RM50.0 million CP programme have been reaffirmed at A and MARC-2, respectively. The reaffirmed ratings reflect the low average monthly delinquency and default rates of the consumer receivables and loans portfolios backing the bonds and CPs; and ample cash balances in the designated accounts to meet n...

MARC has assigned ratings of AA-/MARC-1 & AA- ID /MARC-1ID to Bumiputra-Commerce Holdings Berhad’s (BCHB’s) (formerly Commerce Asset-Holding Berhad) proposed Commercial Papers/ Medium Term Notes programmes, for its conventional and Islamic issuances respectively, for a total combined nominal value up to RM6.0 billion. The notes are rated the same as BCHB’s existing 8.35% RM25...