MARC has affirmed the AAA rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed fixed rate serial bonds of RM1,555.0 million (CMBS 2004-1). The rating carries a stable outlook. CMBS 2004-1 is the first residential mortgage-backed securitisation issuance by Cagamas MBS and comprises four tranches with maturities on the third, fifth, seventh, tenth anniversary from the issuance date of Oct...

MARC has affirmed the long-term rating of AAAIS accorded to Cagamas MBS Berhad’s (Cagamas MBS or the Issuer) RM2,110.0 million mortgage-backed Sukuk Musyarakah issuance (CMBS 2007-1-i). CMBS 2007-1-i is the fourth securities issuance by Cagamas MBS, comprising seven tranches with maturities on the third, fifth, seventh, tenth, twelfth, fifteenth and twentieth anniversary from the issuance da...

MARC has affirmed the AAA rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed fixed rate serial bonds of RM2,060.0 million (CMBS 2005-2). The rating carries a stable outlook. The affirmed rating and stable outlook reflect the satisfactory performance of the securitised mortgage portfolio to date, particularly its lower-than-expected delinquency and cumulative default rates. As of Decem...

MARC has affirmed the AAA rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed fixed rate serial bonds (CMBS 2007-2) of RM2,410.0 million. The affirmed rating reflects the satisfactory performance of the securitised mortgage portfolio to date, particularly its stable delinquency rate and low cumulative default rate. As of August 2008, CMBS 2007-2 benefits from a marginally higher credit...

MARC has affirmed the AAAID rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed Sukuk Musyarakah issuance (CMBS 2005-1) of RM2,050.0 million. CMBS 2005-1 represents the second residential mortgage-backed securitization issuance by Cagamas MBS and is supported by a portfolio of government staff Islamic home financings (GSIHFs). The affirmed rating reflects the satisfactory performance o...

MARC has affirmed the long term rating of Cagamas MBS Berhad’s (Cagamas MBS) mortgage-backed Sukuk Musyarakah issuance of RM2,110.0 million (CMBS 2007-1-i) at AAAIS. The rating reflects the satisfactory performance of the collateral pool, in particular its low cumulative default rate and slightly lower than projected prepayment rate which has resulted in a modest increase in credit enhanceme...

MARC has reaffirmed the long term rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed Fixed Rate Serial Bonds (CMBS 2005-2) of RM2,060.0 million at AAA.  CMBS 2005-2 is collateralised by a portfolio of government staff housing loans (GSHLs), payments on which are deducted at source. The reaffirmed rating reflects the performance of the securitised mortgage portfolio in particular,...

MARC has reaffirmed the AAA rating of Cagamas MBS Berhad’s (Cagamas MBS) RM1,555.0 million Residential Mortgage-Backed Securities (CMBS 2004-1).  The reaffirmed rating reflects the performance of the securitised mortgage portfolio in particular, its low cumulative default rate and significant principal prepayments which have allowed credit enhancement for the transaction to increase to ...

MARC has reaffirmed the AAAID rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed Sukuk Musyarakah Issuance (CMBS 2005-1) of RM2,050.0 million. CMBS 2005-1 is collateralized by a portfolio of Government Staff Islamic residential mortgages, payments on which are deducted at source. The reaffirmed rating reflects the performance of the securitised mortgage portfolio in particular, its lo...

MARC has assigned a rating of AAA to Cagamas MBS Berhad’s (Cagamas MBS) asset-backed Fixed Rate Serial Bonds of RM2,410.0 million. The rating reflects the quality of the underlying government staff housing loans (GSHLs); overcollateralisation of 125.1% which allows the transaction to withstand AAA default and prepayment stresses; and the strong transaction administrator, Cagamas Berhad (Caga...