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MARC has upgraded CIMB Islamic Bank Berhad’s (CIMB Islamic) long-term financial institution rating to AAA from AA+. At the same time, MARC has also upgraded its rating on CIMB Islamic’s Tier 2 Junior Sukuk Programme to AA+IS from AAIS. The rating upgrades conclude a rating review for possible upgrade that was initiated by MARC on April 20, 2010 on CIMB Islamic and its parent, CIMB Bank...
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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 the expectation that the...
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MARC has withdrawn its MARC-2ID/A+ID ratings on Capable Aspect Sdn Bhd’s (CASB) RM40 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes Issuance Facility (MUNIF/IMTN) with immediate effect at the request of the issuer. CASB issued a circular resolution to its sole noteholder on April 26, 2010 to seek a waiver of the requirement to maintain a rating on the notes....
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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,...
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MARC has removed its AA-IS and MARC-1ID/AA-ID ratings on Tanjung Langsat Port Sdn Bhd’s (TLP) RM250.0 million Sukuk Musyarakah (Sukuk Musyarakah) and RM135 million Musyarakah Commercial Papers/Musyarakah Medium Term Notes Programme (MCP/MMTN) respectively from MARCWatch Negative where they were first placed on January 15, 2010. Concurrently, the ratings were affirmed and the ratings outlook ...
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MARC has placed the long-term financial institution ratings of both CIMB Bank Berhad (CIMB Bank) and CIMB Islamic Bank Berhad (CIMB Islamic) on MARCWatch Positive, reflecting the relatively robust performance on the part of both CIMB Bank and its subsidiary, CIMB Islamic, through a weaker economic environment and expectations of continued improvements in their financial performance over the next 1...
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MARC has removed its ratings of AAAID and AAID on ABS Plantation Assets Berhad’s (ABS Plantation) RM50 million Class A and RM45 million Class B Senior Notes Bai’ Bithaman Ajil Islamic Debt Securities (BaIDs) respectively from MARCWatch Developing, where they have been placed since August 28, 2009. At the same time, MARC has withdrawn the ratings upon confirmation from the facilit...
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MARC has withdrawn its rating of AAAIS on Musyarakah One Capital Berhad’s RM2.5 billion Asset-Backed Sukuk Musyarakah Programme upon confirmation of the cancellation of the facility effective April 4, 2010 by facility agent, CIMB Investment Bank Berhad. The outstanding amount of Sukuk Musyarakah Series 2005-A was redeemed in full on April 2, 2010. Contacts: Nadia Edmaz Abdul Hadi, 03-2090 22...
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MARC has withdrawn its ratings of MARC-2ID/AID on Premium Nutrients Berhad’s (Premium Nutrients) RM85 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) programme in connection with the cancellation of the MUNIF/IMTN effective April 8, 2010, as confirmed by its facility agent, MIDF Amanah Investment Bank Berhad. The facility cancellation follows the...
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MARC has withdrawn its rating of A-ID on OSK Property Holdings Bhd’s RM50 million Class B Serial Bai-Bithaman Ajil Islamic Debt Securities (Class B BaIDS) with immediate effect. The rating withdrawal follows the final redemption of its outstanding RM17.5 million on the Class B BaIDS on April 6, 2010 and cancellation of the facility, as confirmed by its facility agent, OSK Investment Bank Ber...
This article has been viewed 1117 times.