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MARC has assigned its long-term and short-term financial institution ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF Investment). The assigned ratings reflect the bank’s low-risk business model, established track record in Malaysia as well as its strong capitalisation and healthy asset quality. The outlook on the ratings is stable. Largely focused on trading in money market and debt...
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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 upgraded its long-term financial institution rating on CIMB Bank Bhd (CIMB Bank) to AAA from AA+, reflecting the bank’s resilient earning streams, improved asset quality, adequate capitalisation and strong business franchise in Malaysia. MARC had earlier placed the long-term financial institution rating of CIMB Bank on MARCWatch Positive on April 20, 2010 on the expectation that the...
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MARC has affirmed its AA-/MARC-1 financial institution ratings on AmInvestment Bank Berhad (AmInvestment). The affirmed ratings reflect the consolidated strength of the commercial and investment banking franchises of AMMB Holdings Berhad (AMMB Holdings) Group and its improving financial profile in addition to the strong operational support received from its major shareholder and strategic partner,...
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MARC has placed the long-term financial institution ratings of both CIMB Bank Berhad (CIMB Bank) and CIMB Islamic Bank Berhad (CIMB Islamic) on MARCWatch Positive, reflecting the relatively robust performance on the part of both CIMB Bank and its subsidiary, CIMB Islamic, through a weaker economic environment and expectations of continued improvements in their financial performance over the next 1...
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Kuwait Finance House (Malaysia) Berhad (KFHMB) announced recently that it is in the midst of conducting a due diligence status audit on certain past transactions and contractual arrangements of the bank with a view to strengthen its credit processes, and ultimately, asset quality. MARC does not see any immediate rating implications for KFHMB's financial institution ratings of AA+/MARC-1. At a meet...
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MARC announced today that it has affirmed with a stable outlook and withdrawn its AA/MARC-1 and AAID/MARC-1ID ratings on CIMB Group Holdings Berhad's (formerly known as Bumiputra-Commerce Holdings Berhad) RM6.0 billion Conventional and Islamic Commercial Paper (CP) and Medium Term Notes (MTN) Programmes. The rating withdrawal is subsequent to the issuer's request and follows the withdrawal of the ...
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MARC announced today that it has affirmed with a stable outlook and withdrawn its A+ rating on CIMB Group Holdings Berhad's (CIMBG Holdings) RM3.0 billion Cumulative Subordinated Fixed Rate Notes Programme (2009/2074). The rating withdrawal is subsequent to the issuer's request and means that MARC will no longer carry out surveillance on the subordinated notes which remains outstanding.The r...
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MARC is in the midst of reviewing its ratings on ABS Samudera Receivables Berhad’s (ASRB) RM15.0 million outstanding Notes Series-A under its RM250.0 million Medium Term Notes (MTN) Programme and will likely affirm the ratings if outstanding performance information and verification from accounting and tax specialist subsequently validates MARC’s assessment of the transaction’s pe...
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MARC AFFIRMS RATINGS OF RCE ADVANCE SDN BHD’S RM420.0 MILLION FIXED RATE MEDIUM-TERM NOTES PROGRAMME
MARC has affirmed the ratings of RCE Advance Sdn Bhd’s (RCEA) RM420.0 million Fixed Rate Medium-Term Notes programme (Facility) at A+ for RM240.0 million Class A; A for RM120.0 million Class B; and BBB+ for RM60.0 million Class C notes. The ratings carry a stable outlook. The affirmation and stable outlook are premised on the satisfactory performance of the securities’ underlying portf...
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