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MARC has affirmed its AAA and AAAID ratings on The Export-Import Bank of Korea’s (KEXIM) conventional and Islamic Medium Term Notes Programmes with a combined nominal value of RM3.0 billion. The outlook on the ratings is stable. The ratings reflect KEXIM’s public policy role in supporting the Republic of Korea’s (South Korea) export and import industries, its strong standalone fi...
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MARC has assigned its MARC-1/AA ratings to Hong Leong Financial Group Berhad’s (HLFG) proposed Commercial Paper and Medium Term Notes programmes with a combined limit of RM1.8 billion. At the same time, MARC has also affirmed the ratings on HLFG’s RM800 million Commercial Paper and Medium Term Notes Programme (CP/MTN) at MARC-1/AA. The rating outlook for the long-term rating is stable....
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MARC has assigned its AA-/MARC-1 financial institution ratings on Hong Leong Investment Bank Berhad (HLIB) with a stable outlook. HLIB’s standalone credit profile is commensurate with A+/MARC-1 ratings, reflecting its emerging position as a mid-tier investment bank with established stockbroking operations, good profitability and its potential to leverage on broader Hong Leong Group relations...
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MARC has assigned long-term and short-term financial institution ratings of AAA/MARC-1 to Maybank Islamic Berhad (Maybank Islamic). At the same, MARC has also assigned a AA+IS rating to Maybank Islamic’s proposed Islamic Subordinated Sukuk issuance of RM1.0 billion in nominal value. The outlook on the ratings is stable. Maybank Islamic’s financial institution ratings are equalised with...
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MARC has assigned its long-term and short-term financial institution ratings of AAA/MARC-1 to Malayan Banking Berhad (Maybank). The ratings reflect Maybank’s entrenched market position as the largest commercial bank in Malaysia, strong financial profile with adequate capitalisation and liquidity, improving asset quality and resilient recurring earnings stream from its geographically diversif...
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MARC has assigned an insurer financial strength rating of AA to BEST RE (L) Limited and BEST RE Family (L) Limited (collectively referred to as the BEST RE Group) on Malaysia’s national rating scale. The companies were set up when the original Tunisia-based entity BEST RE transferred its business to Labuan in October 2010 following a group restructuring exercise. The assigned ratings are und...
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MARC has affirmed its ratings of A+, A and BBB+ on outstanding Class A, B and C notes issued by RCE Advance Sdn Bhd (RCEA) under its RM420 million Fixed Rate Medium Term Notes (MTN) Programme. The ratings affect RM115 million of outstanding notes under Class A, RM105 million under Class B and RM60 million under Class C. The ratings outlook has been revised to negative from stable.RCEA is a special...
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MARC has assigned its MARC-1ID/MARC-1 ratings to Bank Pembangunan Malaysia Berhad’s (BPMB) proposed Islamic Commercial Papers and/or conventional Commercial Papers programme of up to RM2.0 billion in nominal value. At the same time, MARC has also affirmed BPMB’s financial institution rating of AAA. The rating outlook is stable. The ratings reflect BPMB’s status as a wholly govern...
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MARC has affirmed its AA+ rating on State Bank of India’s (SBI) Senior Unsecured Bonds of RM500 million. The rating reflects SBI’s very high systemic importance as the largest bank in India, its robust market franchise, stable income generation and strong liquidity position. The rating also incorporates SBI’s ownership structure and the likelihood of external support from its maj...
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MARC has affirmed its AA-IS rating on MNRB Holdings Berhad's (MNRB) RM200 million Islamic Medium-Term Notes (IMTN) with a negative outlook. The negative outlook reflects MNRB's weak company-level cash flow coverages and liquidity in addition to the high level of double leverage at the investment holding company level. Dividends received to interest paid coverage at the holding company declined bel...
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