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MARC has assigned a preliminary rating of AA+IS to CIMB Islamic Bank Berhad’s (CIMB Islamic) proposed RM5.0 billion Basel III-compliant Tier 2 Junior Sukuk (Proposed Junior Sukuk) programme. The bank’s financial institution (FI) ratings and corporate debt rating on its existing RM2.0 billion Tier 2 Junior Sukuk (Junior Sukuk) programme were affirmed at AAA/MARC-1 and AA+IS respectively...
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MARC has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic or the bank) financial institution (FI) ratings at AAA/MARC-1 and concurrently affirmed its rating on CIMB Islamic’s RM2.0 billion Tier 2 Junior Sukuk Programme (Junior Sukuk) at AA+IS. The outlook on the ratings is stable. CIMB Islamic’s Junior Sukuk is rated one notch lower than its long-term financial institution ratin...
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MARC has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic or the bank) financial institution (FI) ratings at AAA/MARC-1 and concurrently affirmed its rating on CIMB Islamic’s Tier 2 Junior Sukuk Programme (Junior Sukuk) at AA+IS. CIMB Islamic’s Junior Sukuk is rated one notch lower than its long-term financial institution rating due to the subordination of the Junior Sukuk to th...
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MARC has confirmed its AA+IS/Stable rating on CIMB Islamic Bank Berhad's (CIMB Islamic) RM2.0 billion Tier-2 Junior sukuk programme in connection with the bank's issuance of its third tranche sukuk under the programme. There are two prior issued tranches of sukuk under the same programme: RM300 million sukuk issued in September 2009 and RM250 million sukuk issued in April 2011.The programme rating...
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MARC has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) long-term financial institution rating at AAA and concurrently affirmed its rating on CIMB Islamic’s Tier 2 Junior Sukuk Programme at AA+IS. The outlook on the long-term rating is stable. CIMB Islamic’s financial institution rating is equated to parent CIMB Bank Berhad’s (CIMB Bank), on account of the high level of...
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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 upgraded CIMB Islamic Bank Berhad’s (CIMB Islamic) long-term financial institution rating to AAA from AA+. At the same time, MARC has also upgraded its rating on CIMB Islamic’s Tier 2 Junior Sukuk Programme to AA+IS from AAIS. The rating upgrades conclude a rating review for possible upgrade that was initiated by MARC on April 20, 2010 on CIMB Islamic and its parent, CIMB Bank...
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MARC has assigned a rating of AAIS to CIMB Islamic Bank Berhad’s (CIMB Islamic) proposed Tier-2 Junior Sukuk Programme. The rating is positioned one notch lower than MARC’s assigned long-term financial institution rating on CIMB Islamic of AA+. The assigned corporate debt rating reflects the subordinated position of the Junior Sukuk relative to the bank’s deposits as well as seni...
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MARC has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) financial institution (FI) ratings of AAA/MARC-1/stable and concurrently the sukuk issuance ratings as follows:RM10.0 billion senior Sukuk Wakalah programme (Sukuk Wakalah) at AAAIS/StableRM5.0 billion Tier 2 Junior Sukuk programme at AA+IS/StableCIMB Islamic’s FI ratings are equalised to its parent CIMB Bank Berhad’s FI ratings of ...
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