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MARC has announced the affirmation of the AAA rating on Oversea-Chinese Banking Corporation Limited’s (OCBC) redeemable subordinated bonds. The rating factors in OCBC’s well-entrenched business presence in Singapore and Malaysia, its sound capitalisation, diversified earnings streams and strong risk management capabilities. MARC also derives comfort from the high level of support affor...
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MARC has withdrawn the AA-/MARC-1 ratings assigned to Hong Leong Financial Group Berhad’s (“HLFG”) RM300 million Commercial Paper and Medium-Term Notes Programme (CP/MTN) with immediate effect following notification by the facility agent of the expiry of the facility. MARC’s remaining rating obligation in respect of HLFG is now limited to its RM800 million CP/MTN Programme ...
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MARC has affirmed the ratings on Hong Leong Financial Group Berhad’s (HLFG) RM800 million Commercial Papers and Medium Term Notes (CP/MTN) (2007 to 2014) and RM300 million CP/MTN (2002 to 2009) Programmes at AA-/MARC-1. The affirmed ratings continue to reflect the group’s successful banking and insurance franchises, the consistent and resilient earnings performance of its principal ban...
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MARC has assigned a preliminary rating of A+ to Bumiputra-Commerce Holdings Berhad’s (“BCHB”) proposed RM3.0 billion Cumulative Subordinated Fixed Rate Notes Programme. At the same time MARC affirms its senior debt ratings of AA/MARC-1 and AAID/MARC-1ID on BCHB’s rated Conventional and Islamic Senior Debt issues. The ratings outlook is stable.MARC has rated the subordinated...
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MARC has assigned a rating of AAIS to CIMB Islamic Bank Berhad’s (CIMB Islamic) proposed Tier-2 Junior Sukuk Programme. The rating is positioned one notch lower than MARC’s assigned long-term financial institution rating on CIMB Islamic of AA+. The assigned corporate debt rating reflects the subordinated position of the Junior Sukuk relative to the bank’s deposits as well as seni...
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MARC has assigned ratings of AA/AAIS to CIMB Bank Berhad’s (CIMB Bank) proposed Tier 2 Subordinated Debt Programme and Junior Sukuk Programme respectively with a combined nominal value of RM5.0 billion. The ratings are one notch lower than CIMB Bank’s Financial Institution rating, reflecting its position relative to deposits and senior debt. Underpinning the ratings are CIMB Bank&rsquo...
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MARC has assigned AAA insurer financial strength rating to Danajamin Nasional Berhad (Danajamin). The rating outlook is stable. The rating and outlook on the rating reflect Danajamin’s important role and status as Malaysia’s first and sole financial guarantee insurer (FGI) and government-sponsored entity, respectively. Licensed under the Insurance Act 1996 and regulated under the Insurance (Fi...
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MARC has withdrawn the AAA rating assigned to ABS Samudera Receivables Berhad’s RM5.0 million Tranche 2 under Notes Series A of its RM250.0 million Medium-Term Notes (MTN) Programme with immediate effect following the full redemption of Tranche 2 on April 27, 2009. MARC’s rating obligation in respect of ASRB’s RM250.0 MTN programme is limited to the RM15.0 million currently outst...
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MARC has affirmed its AA-/MARC-1 financial institution ratings on AmInvestment Bank Berhad (AmInvestment). The outlook on the ratings is stable. The affirmed ratings reflect the consolidated strength of the banking entities of AMMB Holdings Berhad (AHB/AmBank Group) which is underpinned by strong investment and retail banking franchises as well as sound core profitability, asset quality and capita...
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MARC has withdrawn its AA(bg) / MARC-1(bg) ratings on Pembangunan Leasing Corporation Sdn Bhd’s RM200 Million Guaranteed Notes Issuance Programme with immediate effect, following the full redemption and cancellation of the facility, as confirmed by its facility agent, Deutsche Bank (Malaysia) Berhad. Contacts: Milly Leong, 03-2090 2288/ milly@marc.com.my; Esther Ee, 03-2090 2270/ esther@marc...
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