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MARC has affirmed its ratings of AAAIS and AA+IS on Danajamin Nasional Berhad’s (Danajamin) Senior and Subordinated Sukuk Murabahah of up to RM2.0 billion under its Sukuk Murabahah programme. Concurrently, the rating agency has affirmed its insurer financial strength rating of AAA and counterparty credit ratings of AAA/MARC-1 on Danajamin. The outlook on all ratings is stable.
The key rati...
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MARC has affirmed Malayan Banking Berhad’s (Maybank) financial institution (FI) ratings at AAA/MARC-1 and concurrently the rating on the bank’s RM10.0 billion Senior Medium-Term Notes (MTN) programme at AAA. The FI and issue ratings are based on a national rating scale.
MARC has also assigned an intrinsic credit strength rating (ICSR) of A-ND to the bank. The ICSR is based on an internat...
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MARC has withdrawn its rating of AAAIS on Cagamas Berhad’s RM5.0 billion Islamic Medium-Term Notes (IMTN) programme. The rating carried a stable outlook. The rating withdrawal follows the early cancellation of the programme as confirmed by the facility agent on June 22, 2018.
Upon the withdrawal of the rating, MARC’s analytical coverage on Cagamas is now limited to its RM20.0 billion Con...
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MARC has affirmed its ratings on national mortgage corporation Cagamas Berhad’s bonds and sukuk issues as follows:
Conventional and Islamic Commercial Papers (CP/ICP) programmes with a combined aggregate limit of RM20.0 billion at MARC-1/ MARC-1IS ;
Conventional and Islamic Medium-Term Notes (MTN/IMTN) programmes of up to RM40.0 billion at AAA / AAAIS ; and
IMTN programme of RM5....
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MARC has withdrawn its MARC-1/AA ratings on Hong Leong Financial Group’s (HLFG) RM1.8 billion Commercial Papers/Medium-Term Notes programmes. The ratings carried a positive outlook.
The ratings withdrawal is at the request of the issuer. Upon the withdrawal, MARC will no longer provide analytical coverage on HLFG.
Contacts:
Douglas De Alwis, +603-2717 2965/ douglas@marc.com.my;
Sh...
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MARC has affirmed its investment manager rating (IMR) of IMR-2 on Kenanga Investors Berhad (KIB) and on Kenanga Islamic Investors Berhad (KIIB).
KIB is wholly owned by Kenanga Investment Bank Berhad (Kenanga), a key domestic financial group, and serves as its parent’s fund management arm by providing fund management services on both conventional and Islamic schemes. KIB’s wholly-owned s...
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MARC has withdrawn its MARC-1IS/MARC-1 ratings on Bank Pembangunan Malaysia Berhad’s Islamic/Conventional Commercial Papers (CP) programme of up to RM2.0 billion. The ratings carried a stable outlook. The ratings withdrawal follows the expiry of the CP programme on March 30, 2018.
MARC will however continue to provide its financial institution (FI) rating on Bank Pembangunan. The bank curr...
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MARC has withdrawn its AAA/AAA-IS ratings on The Export-Import Bank of Korea’s (KEXIM) RM3.0 billion conventional and/or Islamic Medium-Term Notes (MTN) programme. The ratings carried a stable outlook. The ratings withdrawal follows the final redemption of the outstanding notes of RM500.0 million and expiry of the programme on March 12, 2018 as confirmed by the facility agent.
Upon the withd...
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MARC has assigned an intrinsic credit strength rating (ICSR) of BBB+ND to The Export-Import Bank of Korea (KEXIM). The ICSR is based on a non-domestic scale. Concurrently, the rating agency has affirmed KEXIM’s financial institution (FI) rating at AAA and its Medium-Term Notes (MTN) programme of RM1.0 billion and conventional and/or Islamic MTN programmes with a combined nominal value of RM3.0 ...
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MARC has affirmed its long-term and short-term counterparty credit ratings of AAA/MARC-1 on Credit Guarantee and Investment Facility (CGIF) with a stable outlook. The ratings are based on Malaysia’s national rating scale.
The affirmed ratings reflect CGIF’s strong capital and liquidity positions which are underpinned by sound policy guidelines and a strong governance structure. Manila-b...
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