MARC has affirmed national mortgage corporation Cagamas Berhad’s (Cagamas) debt issue ratings as follows: Conventional and Islamic Commercial Paper (CP/ICP) Programmes with an aggregate combined limit of RM20.0 billion at MARC-1/ MARC-1ID respectively; Conventional and Islamic Medium-Term Notes (MTN/IMTN) Programmes of up to RM40.0 billion at AAA / AAAID respectively; and ICP and IMT...

MARC has affirmed its long-term and short-term financial institution ratings of AAA/MARC-1 on Hong Kong-based The Bank of East Asia, Limited (BEA). The outlook on the ratings is stable. The affirmed ratings reflect the bank’s capacity to meet its financial obligations on the Malaysian national rating scale. MARC views BEA’s healthy capital position, strong earnings track record and fundi...

MARC has affirmed its long-term and short-term counterparty credit ratings of AAA/MARC-1 on Credit Guarantee and Investment Facility (CGIF) with a stable outlook. The ratings are based on Malaysia’s national rating scale. The ratings affirmation reflects CGIF’s strong capital position and conservative liquidity management, underpinned by its sound policy guidelines and governance structure. C...

MARC has assigned a final rating of AA to CIMB Group Holdings Berhad’s (CIMB Group) RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme (sub-debt programme). The outlook on the rating is stable. Upon review of the final documentation of the issuance, MARC is satisfied that the terms and conditions of the sub-debt programme have not changed in any material way from the dra...

MARC has assigned corporate credit ratings of AA+/MARC-1 to CIMB Group Holdings Berhad (CIMB Group) and concurrently assigned a preliminary rating of AA to the group’s proposed RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme (sub-debt programme). The outlook on all of the ratings is stable. The one-notch rating differential between CIMB Group’s long-term corporate credit...

MARC has affirmed its AAA insurer financial strength (IFS) rating on Danajamin Nasional Berhad (Danajamin) with a stable outlook. The affirmed IFS rating is based on MARC’s assessment on the high probability of support from the Malaysian government to Danajamin. The assessment considers Danajamin’s status as a government-sponsored and -owned financial guarantee insurer (FGI) and its key role ...

MARC has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) financial institution (FI) and RM2.0 billion Tier 2 Junior Sukuk (Junior Sukuk) programme ratings at AAA/MARC-1 and AA+IS respectively. Concurrently, MARC has assigned a final rating of AA+IS to CIMB Islamic’s proposed RM5.0 billion Basel III-compliant Tier 2 Junior Sukuk (proposed Junior Sukuk) programme. The outlook on all ratings ...

MARC has affirmed the long-term and short-term financial institution (FI) ratings on CIMB Bank Berhad (CIMB Bank) at AAA/MARC-1 and accordingly affirmed the ratings on all its corporate debt issuances. In accordance with MARC’s general notching policy, the ratings on CIMB Bank’s existing subordinated debt and hybrid securities are notched down from the bank’s FI rating by one or two notches...

MARC has affirmed Kuwait Finance House (Malaysia) Berhad's (KFHMB) long-term and short-term financial institution (FI) ratings of AA+/MARC-1. The outlook on the ratings is stable. KFHMB’s long-term rating is notched down from the ratings of its parent Kuwait Finance House K.S.C. (KFH) in accordance with MARC’s approach to rating subsidiaries of foreign banks. The rating agency has affirmed th...

MARC has affirmed financial institution (FI) ratings of A/MARC-1 to Bank Muamalat Malaysia Berhad (Bank Muamalat) and concurrently affirmed the AIS rating on the Islamic Senior Notes Programme (Senior Sukuk) of up to RM2.0 billion. The outlook on the ratings is stable. MARC notes that Bank Muamalat and Malaysia Building Society Berhad (MBSB) have received an approval from Bank Negara Malaysia (BN...