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MARC has assigned final ratings of AA+/AA+IS to CIMB Bank Berhad’s (CIMB Bank) proposed Tier 2 Subordinated Debt and Junior Sukuk Programme respectively with a combined nominal value of RM5.0 billion. The ratings are one notch lower than CIMB Bank’s affirmed long-term financial institution rating, reflecting its position relative to deposits and senior debt. Underpinning CIMB Bank&rsqu...
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MARC has affirmed its AAA issuer rating on Credit Guarantee Corporation Malaysia Berhad (CGC). The rating is underpinned by the high likelihood of government support, in view of CGC’s public policy role in providing credit access to small- to medium-sized enterprises (SME) and the majority shareholding by Bank Negara Malaysia (BNM). The rating also takes into account the corporation’s ...
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MARC has withdrawn its MARC-2 rating on RCE Premier Sdn Bhd’s (RCEP) RM50.0 million Commercial Papers (CP) programme following the full redemption of outstanding CPs and subsequent cancellation of the programme on October 29, 2010, as confirmed by the facility agent, MIDF Amanah Investment Bank Bhd.Contacts: Ruben Khoo, 03-2082 2265/ rubenkhoo@marc.com.my; Sandeep Bhattacharya, 03-2082 2247/...
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MARC has assigned a financial institution rating of AAA to The Bank of East Asia, Limited (BEA). The rating reflects MARC's assessment of the bank's capacity to meet its financial obligations on a national scale. The outlook on the rating is stable.The rating incorporates BEA's established banking franchise in Hong Kong and mainland China, its very strong asset quality metrics, sound capitalisatio...
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MARC has affirmed the ratings of AAA and AAAID assigned to 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 ratings reflect KEXIM’s public policy role in supporting the Republic of Korea’s (Korea) export and import industries, strong standalone financial profile and its full governm...
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MARC has affirmed its rating on Woori Bank’s RM1.0 billion Medium Term Notes Programme (MTN) at AAA, premised on the bank’s strong and established business franchise in the Republic of Korea (Korea), adequate capitalisation and access to government liquidity support via its government-owned holding company Korea Deposit Insurance Corporation (KDIC). While the rating also takes into con...
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The rating of AA+IS/Stable Outlook assigned to CIMB Islamic Bank Berhad’s (CIMB Islamic) RM2.0 billion Junior Sukuk Programme remains unchanged following the removal of step-up profit payment provisions under the programme. The proposed amendments will only affect future issuances under the programme and the legal terms of the current outstanding sukuk will remain unchanged. MARC's last rati...
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MARC has affirmed its AAA insurer financial strength rating on Danajamin Nasional Berhad (Danajamin). The rating outlook is stable. The rating and outlook on the rating reflect Danajamin’s important role and status as Malaysia’s first and sole financial guarantee insurer (FGI) and its status as a government-sponsored entity. Licensed under the Insurance Act 1996 and regulated under the Insuran...
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MARC has upgraded the ratings on Hong Leong Financial Group Berhad’s (HLFG) RM800 million Commercial Paper and Medium Term Notes Programme (CP/MTN) to AA/MARC-1 from AA-/MARC-1. The rating upgrade incorporates the demonstrated ability of its main banking subsidiary, Hong Leong Bank Berhad (HLB), to generate solid earnings through the recent challenging period, the sound financial and operati...
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MARC has affirmed Kuwait Finance House (Malaysia) Berhad’s (KFHMB) long- and short-term financial institution ratings at AA+/MARC-1. The affirmation of KFHMB’s ratings follows the affirmation of the long-term and short-term financial institution ratings of its parent, Kuwait Finance House K.S.C. at AAA/MARC-1. KFHMB is rated one notch below KFH to reflect the strategic importance of th...
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