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MARC Ratings has assigned preliminary ratings of MARC-1/MARC-1IS to Cagamas Berhad’s proposed Conventional and Islamic Commercial Papers (CCP/ICP) programmes with a combined aggregate limit of RM20 billion. The ratings outlook is stable.Cagamas’ status as the national mortgage corporation and its strategic role in the domestic financial system, underpinned by its strong capitalisation and heal...
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MARC Ratings has affirmed its investment manager rating (IMR) of IMR-2 on Kenanga Investors Berhad (KIB) and KIB’s wholly-owned subsidiary Kenanga Islamic Investors Berhad (KIIB).The IMR rating reflects KIB’s well-established investment processes and sound risk management practices. The IMR rating on KIIB mirrors the parent’s rating based on our assessment of KIIB’s significant integration...
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MARC Ratings has withdrawn its ratings of AAAIS/AA+IS on Danajamin Nasional Berhad’s (Danajamin) RM2.0 billion Senior and Subordinated Sukuk Murabahah programme. The ratings withdrawal follows the full redemption of the outstanding amount of RM500.0 million under the programme and the subsequent cancellation of the programme. This was confirmed by the facility agent on October 11, 2022. &n...
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MARC Ratings has assigned a preliminary rating of AA-(cg) on Chailease Berjaya Credit Sdn Bhd’s (CBC) proposed RM1.0 billion Medium-Term Notes (MTN) Programme. The rating outlook is stable. The programme carries an unconditional and irrevocable guarantee from CBC’s ultimate holding company, Chailease Holding Company Limited (CHC).CBC is a 70:30 joint venture between CHC and Berjaya Corporation...
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MARC Ratings has affirmed its financial institution (FI) rating of AAA on Bank Pembangunan Malaysia Berhad (BPMB). Concurrently, the rating agency has affirmed its rating of AAAIS on the bank’s Islamic Medium Term-Notes Programme of up to RM5.0 billion. The ratings outlook is stable.BPMB’s status as a wholly government-owned institution mandated to provide financing to priority sectors in supp...
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MARC Ratings has affirmed its insurer financial strength (IFS) rating of AAA and counterparty credit ratings of AAA/MARC-1 on Danajamin Nasional Berhad (Danajamin). Concurrently, the rating agency has affirmed its ratings of AAAIS and AA+IS on the Senior and Subordinated Sukuk Murabahah of up to RM2.0 billion under its Sukuk Murabahah programme. Currently, there is an outstanding of RM500.0 millio...
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MARC Ratings has affirmed its financial institution (FI) ratings of AAA/MARC-1 on Islamic Development Bank (IsDB). The rating agency has concurrently affirmed its AAAIS rating on the Sukuk Wakalah programme of up to RM400 million issued by Tadamun Services Berhad, a trust established by IsDB. The ratings outlook is stable.The FI ratings incorporate IsDB’s preferred creditor status as a multilate...
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MARC Ratings has affirmed its financial institution (FI) ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF IB) with a stable outlook.KAF IB’s low-risk business model, underpinned by a conservative investment strategy, and strong liquidity and capitalisation levels remain key rating drivers. The susceptibility of KAF IB’s performance to domestic capital market conditions and interest rat...
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MARC Ratings has affirmed its long-term and short-term corporate credit ratings of AA+/MARC-1 on CIMB Group Holdings Berhad (CIMB Group) and its issue rating of AA on the group’s RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme. The ratings outlook is stable. CIMB Group is a non-operating financial holding company and is the country’s second-largest banking group with...
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MARC Ratings has affirmed its financial institution (FI) ratings on CIMB Bank Berhad at AAA/MARC-1. Concurrently, the rating agency has also affirmed its rating of AA+ on the bank’s existing RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme. All the ratings carry a stable outlook.CIMB Bank’s high systemic importance in the domestic banking industry as the second-largest dom...
This article has been viewed 530 times.