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MARC Ratings has affirmed its financial institution (FI) ratings on CIMB Bank Berhad at AAA/MARC-1. Concurrently, the rating agency has also affirmed its rating of AA+ on the bank’s existing RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt programme. The ratings outlook is stable. CIMB Bank’s high systemic importance in the domestic banking industry, well-established bank...
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MARC Ratings has affirmed its long-term and short-term corporate credit ratings of AA+/MARC-1 on CIMB Group Holdings Berhad (CIMB Group) and its issue rating of AA 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 RM720.3 billion as at end-1H2...
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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 also affirmed its ratings on CIMB Islamic’s sukuk issuances as follows:• RM10.0 billion Senior Sukuk Wakalah programme (Sukuk Wakalah) at AAAIS/Stable• RM5.0 billion Tier 2 Junior Sukuk programme at AA+IS/StableCIMB Islamic’s FI ...
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MARC Ratings has assigned preliminary ratings to Bank Muamalat Malaysia Berhad’s proposed Sukuk Wakalah programme of up to RM5.0 billion as follows:• Senior Sukuk Wakalah at A+IS • Tier-2 Subordinated Sukuk Wakalah at A-IS • Additional Tier-1 Sukuk Wakalah (AT-1 Sukuk Wakalah) at BBBIS Concurrently, the rating agency has affirmed its financial institution (FI) ratings of A+/...
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MARC Ratings has affirmed its long-term and short-term financial institution (FI) ratings of AAA/MARC-1/Stable on Islamic Development Bank (IsDB). Concurrently, MARC Ratings has affirmed the rating of AAAIS on the Sukuk Wakalah programme of up to RM400 million issued by Tadamun Services Berhad, a trust established by IsDB. The affirmed FI ratings continue to be driven by IsDB’s status as a ...
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MARC Ratings has affirmed its ratings on Cagamas Berhad’s bonds and sukuk issuances as follows:MARC-1/MARC-1IS on Conventional and Islamic Commercial Papers (CP/ICP) programmes with a combined aggregate limit of RM20.0 billionAAA/AAAIS on Conventional and Islamic Medium-Term Notes (MTN/IMTN) programmes of up to RM60.0 billionThe ratings outlook is stable. The key rating drivers remain Cagamas’...
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MARC Ratings has affirmed its long- and short-term financial institution (FI) ratings of AA+/MARC-1 on China Construction Bank (Malaysia) Berhad (CCBM) with a stable outlook. The long-term FI rating is notched down from the FI rating of its parent, China Construction Bank Corporation (CCB) of AAA based on publicly available information. The notching reflects our view that CCBM continues to be...
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MARC Ratings has affirmed its long- and short-term financial institution (FI) ratings of AA+/MARC-1 on Kuwait Finance House (Malaysia) Berhad (KFH Malaysia) with a stable outlook. The long-term FI rating of KFH Malaysia is notched down from the rating of its parent Kuwait Finance House KSC (KFH) of AAA/Stable based on public information. The one notch differential reflects MARC ...
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MARC Ratings has affirmed its financial institution (FI) rating of AAA on Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank). Concurrently, the rating agency has affirmed its ratings of AAAIS /MARC-1IS on the bank’s Islamic Medium-Term Notes (IMTN) Programme of up to RM3.0 billion and Islamic Commercial Papers (ICP) Programme of up to RM1.0 billion with a combined aggregate limi...
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MARC Ratings has withdrawn its insurer financial strength rating of AAA and counterparty credit ratings of AAA/MARC-1 on Danajamin Nasional Berhad. This follows the completion of the legal process to transfer Danajamin’s businesses and undertakings to Bank Pembangunan Malaysia Berhad effective March 1, 2023. Accordingly, bonds/sukuk rated by MARC Ratings that were guaranteed by Danajamin will ca...
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