MARC has assigned a preliminary rating of AAA to Cagamas MBS Berhad’s (Cagamas MBS) asset-backed Fixed Rate Serial Bonds of RM[2,410.0] million. The rating reflects the good quality of the underlying pool of government staff housing loans (GSHLs); overcollateralisation of [125.2]% which allows the transaction to withstand AAA default and prepayment stresses; and the strong transaction admini...

MARC has assigned a rating of AAAIS to Cagamas MBS Berhad’s (Cagamas MBS) mortgage-backed Sukuk Musyarakah Issuance of RM2,110.0 million. The rating reflects the quality of the securitized government staff Islamic home financing (GSIHF); overcollateralisation of 120.3% which allows the transaction to withstand AAA default and prepayment stresses; and, procedures in place to monitor the secur...

MARC has reaffirmed the long-term rating of Cagamas MBS Berhad’s (Cagamas MBS) RM1,555.0 million fixed rate serial bonds (CMBS 2004-1) at AAA.  The reaffirmation reflects the performance of the securitised mortgage portfolio (Portfolio 2004-1) within stressed expectations; overcollateralization of 121.9%; and adequate collection and monitoring procedures employed in respect of Portfolio...

MARC has affirmed the long term rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed Fixed Rate Serial Bonds of RM2,060.0 million at AAA.  The affirmation reflects the satisfactory performance of the securitized mortgage portfolio; overcollateralisation of 141.0%; and adequate monitoring procedures employed in respect of the securitized portfolio by the transaction administrator, C...

MARC has affirmed the long term rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed Sukuk Musyarakah Issuance (CMBS 2005-1) of RM2,050.0 million at AAAID . The affirmation is premised on the performance of the securitised mortgage portfolio; overcollateralisation of 138.8%; the stringent core and portfolio eligibility criteria, which serves to reduce credit risk of the obligors; deduct...

MARC has affirmed the long-term rating of Cagamas MBS Berhad’s (Cagamas MBS) RM1,555.0 million fixed rate serial bonds (CMBS 2004-1) at AAA. The affirmation is premised on the portfolio of securitised Government Staff Housing Loans (GSHL) performing within expectations under stressed scenario aided by the stringent core and portfolio eligibility criteria comprising mortgages of government pe...

MARC has assigned rating of AAA to Cagamas MBS Berhad’s (Cagamas MBS) RM2,060.0 million secured fixed-rate serial bonds. The rating is based on the stringent core and portfolio eligibility criteria, aimed at partially mitigating risk of delinquencies and defaults further reinforced by representations and warranties provided by the Federal Government of Malaysia (GOM); deductions of mortgage pay...

MARC has assigned indicative rating of AAA to Cagamas MBS Berhad’s (Cagamas MBS) RM[2,060.0] million secured fixed-rate serial bonds. The rating is based on the stringent core and portfolio eligibility criteria, aimed at partially mitigating risk of delinquencies and defaults further reinforced by representations and warranties provided by the Federal Government of Malaysia (GOM); deductions of...

MARC has assigned a rating of AAAID to Cagamas MBS Berhad’s (Cagamas MBS) asset-backed Sukuk Musyarakah Issuance (Sukuk Musyarakah) of up to RM[2,050.0] million. The rating is based on the stringent core and portfolio eligibility criteria, aimed at partially mitigating risk of delinquencies and defaults, further reinforced by representations and warranties provided by the Federal Government of M...

MARC has assigned rating of AAA to Cagamas MBS Berhad’s (Cagamas MBS) RM1,555.0 million secured fixed-rate serial bonds. The rating is based on the stringent core and portfolio eligibility criteria of the securitized mortgages, comprising mortgages of government pensioners only, the representation and warranty provided by the Originator, the Federal Government of Malaysia (GOM); deduction of mo...