MARC has affirmed its AA-/MARC-1 financial institution ratings on AmInvestment Bank Berhad (AmInvestment). The outlook on the ratings is stable. The affirmed ratings reflect the consolidated strength of the banking entities of AMMB Holdings Berhad (AHB/AmBank Group) which is underpinned by strong investment and retail banking franchises as well as sound core profitability, asset quality and capita...

MARC has withdrawn its AA(bg) / MARC-1(bg) ratings on Pembangunan Leasing Corporation Sdn Bhd’s RM200 Million Guaranteed Notes Issuance Programme with immediate effect, following the full redemption and cancellation of the facility, as confirmed by its facility agent, Deutsche Bank (Malaysia) Berhad. Contacts: Milly Leong, 03-2090 2288/ milly@marc.com.my; Esther Ee, 03-2090 2270/ esther@marc...

MARC affirms its AAIS rating on MNRB Holdings Berhad’s (MNRB) RM200.0 million Islamic Medium-Term Notes (IMTN) Programme with a developing outlook. The affirmed rating of the investment holding company largely reflects the sustainable business profile of its core operating subsidiary, Malaysian Reinsurance Berhad (Malaysian Re) and its adequate, although weakened recent operating performance...

MARC has affirmed the A and MARC-2 ratings of RCE Premier Sdn Bhd’s (RCEP) RM45.0 million Fixed Rate Serial Bonds and up to RM50.0 million Commercial Papers (CP) programme, respectively. The ratings carry a stable outlook. The affirmations are premised on the satisfactory performance of the securities’ underlying portfolios of receivables, and the maintenance of the minimum collateral ...

MARC has affirmed the ratings of RCE Advance Sdn Bhd’s (RCEA) RM420.0 million Fixed Rate Medium-Term Notes programme (Facility) at A+ for RM240.0 million Class A; A for RM120.0 million Class B; and BBB+ for RM60.0 million Class C notes. The ratings carry a stable outlook. The affirmation and stable outlook are premised on the satisfactory performance of the securities’ underlying portf...

MARC has affirmed its AAA issuer rating on Credit Guarantee Corporation Malaysia Berhad (CGC). The rating continues to reflect CGC’s role as a policy institution in promoting access to financing for small and medium enterprises (SMEs), as well as its majority-ownership by Bank Negara Malaysia (BNM). The rating is also underpinned by the credit guarantee provider’s robust capitalization...

MARC has affirmed the AAA rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed fixed rate serial bonds (CMBS 2004-1) of RM1,555.0 million. The rating carries a stable outlook. CMBS 2004-1 is the first residential mortgage-backed securitization issuance by Cagamas MBS involving a portfolio of government staff housing loans (GSHLs). The affirmed rating and stable rating outlook reflect th...

MARC has assigned a rating of AA- to CIMB Bank Berhad’s (CIMB Bank) proposed up to RM4.0 billion Nominal Value Non-Innovative Tier 1 Stapled Securities (Stapled Securities) Programme. The rating carries a stable outlook. The funding programme entails issuance of Stapled Securities comprising non-cumulative perpetual capital securities (Capital Securities) issued by CIMB Bank stapled to an eq...

MARC has affirmed the AAA rating on ABS Samudera Receivables Berhad’s (ASRB) RM25.0 million Notes Series-A under its RM250.0 million Medium-Term Notes (MTN) Programme. The affirmation reflects the satisfactory performance of the underlying consumer receivables pool and the sufficient level of credit enhancement provided by excess spread and liquidity reserves available to support the AAA-rat...

MARC has assigned a rating of AA- to CIMB Bank Berhad’s (CIMB Bank) Innovative Tier 1 Capital Securities (IT-1 Securities) with nominal value of up to RM1.0 billion. The rating, which is two notches lower than CIMB Bank’s Financial Institution Rating of AA+, reflects the subordination of the IT-1 Securities relative to unsecured senior debt and subordinated debt obligations of the bank...