MARC has affirmed its AAA financial institution rating on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook. CGC is a development financial institution (DFI) with majority shareholding held by the central bank, Bank Negara Malaysia. Its public policy role is to facilitate access to financing for small and medium enterprises (SME) by providing credit guarantees on their...

MARC has affirmed its ratings of AAA on The Export-Import Bank of Korea’s (KEXIM) RM1.0 billion Medium-Term Notes (MTN) programme and AAA/ AAAIS on KEXIM’s Conventional and/or Islamic MTN programmes with a combined nominal value of RM3.0 billion. The outlook on the ratings is stable. The ratings are based on the national rating scale. The ratings on KEXIM are equalised to MARC’s foreig...

MARC has withdrawn its ratings of A and BBB on RCE Advance Sdn Bhd’s (RCEA) RM420 million Fixed Rate Medium-Term Notes (MTN) Programme comprising RM120 million Class B, and RM60 million Class C notes. The outlook on the ratings was stable. The withdrawal follows the redemption of all outstanding amounts under the MTN Programme on March 3, 2017. Upon the withdrawal of the ratings, MARC will...

MARC has affirmed its long-term and short-term financial institution ratings of AAA/MARC-1 on Hong Kong-based The Bank of East Asia, Limited (BEA). The outlook on the ratings is stable. The affirmed ratings reflect the bank’s capacity to meet its financial obligations on the Malaysian national rating scale.   The ratings incorporate MARC’s expectations of systemic support bei...

MARC has affirmed its ratings of A and BBB on special purpose vehicle RCE Advance Sdn Bhd’s (RCEA) outstanding RM5 million Class B and RM10 million Class C notes under the RM420 million Fixed Rate Medium-Term Notes (MTN) Programme respectively. The outlook on the ratings is stable. There is currently no outstanding Class A notes under the programme upon the repayment of RM5 million on November ...

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 ratings affirmation is driven by CGIF’s strong leverage and liquidity position, supported by sound policy guidelines and a strong governance structure put in place...

MARC has affirmed national mortgage corporation Cagamas Berhad’s (Cagamas) bonds and sukuk issues ratings as follows: Conventional and Islamic Commercial Paper (CP/ICP) Programmes with an aggregate combined limit of RM20.0 billion at MARC-1/ MARC-1IS respectively; Conventional and Islamic Medium-Term Notes (MTN/IMTN) Programmes of up to RM40.0 billion at AAA / AAAIS respectively; a...

MARC has withdrawn its AA/stable rating on CIMB Bank Berhad’s (CIMB Bank) RM4.0 billion Non-Innovative Tier 1 Stapled Capital Securities Programme. The rating withdrawal follows the full redemption and subsequent cancellation of the programme as confirmed by the facility agent on January 9, 2017. MARC’s analytical coverage on CIMB Bank is now limited to the following debt issuances: ...

MARC has affirmed its financial institution (FI) ratings of A/MARC-1 on Bank Muamalat Malaysia Berhad (Bank Muamalat) and concurrently affirmed the AIS rating on the Islamic Senior Notes Programme (Senior Sukuk) of up to RM2.0 billion. The outlook on the ratings is stable. The rating on Bank Muamalat’s Senior Sukuk issuance is equalised to its FI rating based on the seniority of the su...

MARC has affirmed its insurer financial strength rating of AAA on Danajamin Nasional Berhad (Danajamin). Concurrently, the rating agency has assigned long-term/short-term counterparty credit ratings of AAA/MARC-1 to Danajamin. The ratings carry a stable outlook. The ratings on Danajamin reflect its status as a government-sponsored and -owned financial guarantee insurer (FGI) that was set up...