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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).KIIB is rated at the same level as parent KIB, reflecting its strategic role in supporting the group’s objectives in Islamic finance, and the high level of operational integration between them, including the sharing o...
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MARC Ratings has assigned a final rating of MARC-1 to Merchantrade Asia Sdn Bhd’s (Merchantrade) Multi-Currency Commercial Papers Programme of up to RM200 million in nominal value. The rating is confined to the ringgit-denominated issuance under the programme.The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed i...
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MARC Ratings has affirmed its long-term and short-term financial institution (FI) ratings of A+/MARC-1 on Kenanga Investment Bank Berhad (Kenanga). Concurrently, the long-term rating outlook has been revised to positive from stable.The outlook revision reflects the positive outcome from Kenanga’s revenue diversification strategy that has improved its overall profitability metrics and provides he...
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MARC Ratings has affirmed its financial institution ratings of A+/MARC-1/Stable on Bank Muamalat Malaysia Berhad. The rating agency has concurrently affirmed its ratings on the bank’s Sukuk Wakalah Programme of up to RM5.0 billion as follows:Senior Sukuk Wakalah at A+IS /StableTier-2 Subordinated Sukuk Wakalah at A-IS /StableAdditional Tier-1 (AT-1) Sukuk Wakalah at BBBIS /StableThe ratings refl...
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MARC Ratings has assigned preliminary ratings of AAA/AAAIS to Cagamas Berhad’s proposed Conventional/Islamic Medium-Term Notes (MTN/IMTN) Programmes with a combined limit of up to RM80.0 billion. Concurrently, the rating agency has affirmed its ratings on Cagamas’ bonds and sukuk issuances as follows:MARC-1/MARC-1IS on Conventional/Islamic Commercial Papers (CCP/ICP) Programmes with a combined...
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MARC Ratings has affirmed its financial institution rating on Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank) at AAA. The rating agency has also affirmed its AAAIS/MARC-1IS ratings on the bank’s existing Islamic Medium-Term Notes Programme/ Islamic Commercial Papers Programme with a combined limit of RM3.0 billion. The rating outlook is stable. The affirmation reflects M...
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MARC Ratings has affirmed its financial institution ratings on CIMB Bank Berhad at AAA/MARC-1. The rating agency has concurrently affirmed its AA+ rating on the bank’s existing RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme. The ratings outlook is stable.The affirmation reflects the bank’s high systemic importance as the second-largest bank by assets in Malaysia. It is t...
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MARC Ratings has affirmed its long- and short-term corporate credit ratings of AA+/MARC-1 on CIMB Group Holdings Berhad (CIMB Group). The rating agency has concurrently affirmed its AA rating on the group’s RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme. The ratings outlook is stable.CIMB Group is Malaysia’s second-largest banking group with total assets of RM757.9 billi...
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MARC Ratings has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) financial institution (FI) ratings of AAA/MARC-1/Stable. Concurrently, the rating agency has affirmed its ratings on CIMB Islamic’s sukuk issuances 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 e...
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MARC Ratings has affirmed its financial institution rating of AAA on Bank Pertanian Malaysia Berhad (Agrobank). Concurrently, the rating agency has also affirmed its rating of AAAIS on Agrobank’s Islamic Medium-Term Notes Programme. The ratings outlook is stable.The ratings reflect MARC Ratings’ view of a very high probability of government support for Agrobank. This is based on the government...
This article has been viewed 174 times.