MARC has withdrawn its rating of AAA/stable on Cagamas MBS Berhad’s RM260.0 million Tranche 5 under the RM2,410.0 million asset-backed fixed rate serial bonds (CMBS 2007-2). The rating withdrawal follows the full redemption of the tranche as confirmed by the facility agent. MARC’s analytical coverage on CMBS 2007-2 continues on the outstanding RM355.0 million under the remaining tranches...

MARC has withdrawn its AAAIS rating/stable outlook on Cagamas MBS Berhad’s RM245.0 million Tranche 5 under the RM2,110.0 million asset-backed sukuk Musyarakah issuance (CMBS 2007-1-i). The rating withdrawal follows the full redemption of the tranche as confirmed by the facility agent. MARC’s analytical coverage on CMBS 2007-1-i continues on the outstanding RM610.0 million under the remain...

MARC has affirmed its AAAIS rating on Cagamas MBS Berhad’s RM2,050.0 million asset-backed Sukuk Musyarakah issuance (CMBS 2005-1) with a stable outlook. The rating affects the final tranche of sukuk under CMBS 2005-1 amounting to RM400.0 million. The rating affirmation mainly reflects CMBS 2005-1’s strong credit enhancement level of 356.6% as at end-September 2018 (Quarter 54) with an ou...

MARC has affirmed its AAA rating on Cagamas MBS Berhad’s RM2,060.0 million asset-backed fixed rate serial bonds (CMBS 2005-2) with a stable outlook. The rating affirmation essentially reflects CMBS 2005-2’s substantial credit enhancement level of 253.0% based on an outstanding principal balance of non-defaulted mortgages of RM933.5 million and combined cash and permitted investments of R...

MARC has affirmed its AAA rating on Cagamas MBS Berhad’s RM2,410.0 million asset-backed fixed rate serial bonds (CMBS 2007-2) with a stable outlook. The rating affirmation mainly reflects CMBS 2007-2’s strong credit enhancement level of 220.4% as at August 31, 2018 (Quarter 46) with an outstanding principal of non-defaulted mortgage loans of RM755.9 million and combined cash and permitte...

MARC has affirmed its AAAIS rating on Cagamas MBS Berhad’s RM2,110.0 million asset-backed Sukuk Musyarakah issuance (CMBS 2007-1-i) with a stable outlook. The rating affirmation reflects CMBS 2007-1-i’s substantial credit enhancement level of 168.7% as at October 31, 2018 (Quarter 47) based on an outstanding principal of non-defaulted home financing of RM1,097.0 million and combined cash...

MARC has affirmed its AAA rating on Cagamas MBS Berhad’s RM2,060.0 million asset-backed fixed rate serial bonds (CMBS 2005-2) with a stable outlook. Cagamas MBS is a wholly-owned special purpose vehicle of Cagamas Holdings Berhad and was established to undertake the securitisation of conventional and Islamic home financing originated by the Malaysian government. CMBS 2005-2 is backed by a ...

MARC has affirmed its AAAIS rating on Cagamas MBS Berhad’s RM2,050.0 million asset-backed Sukuk Musyarakah issuance (CMBS 2005-1) with a stable outlook. The rating affects the final tranche of sukuk under CMBS 2005-1 amounting to RM400.0 million. Wholly owned by Cagamas Holdings Berhad, Cagamas MBS was incorporated as a special purpose vehicle to undertake the securitisation of conventiona...

MARC has affirmed its AAAIS on Cagamas MBS Berhad’s RM2,110.0 million asset-backed Sukuk Musyarakah issuance (CMBS 2007-1-i) with a stable outlook. Cagamas MBS is a wholly-owned special purpose vehicle of Cagamas Holdings Berhad and was established to undertake the securitisation of conventional and Islamic home financing originated by the Malaysian government. CMBS 2007-1-i is backed by a...

MARC has affirmed its AAA rating on Cagamas MBS Berhad’s RM2,410.0 million asset-backed fixed rate serial bonds (CMBS 2007-2) with a stable outlook. Cagamas MBS is a wholly-owned special purpose vehicle of Cagamas Holdings Berhad and was established to undertake the securitisation of conventional and Islamic home financing originated by the Malaysian government. CMBS 2007-2 is backed by a ...