MARC has assigned long term and short term financial institution ratings of AA+/MARC-1 to Kuwait Finance House (Malaysia) Berhad (KFHMB). The ratings carry a stable outlook. The ratings of KFHMB are anchored to MARC’s AAA/MARC-1 financial institution ratings on Kuwait Finance House KSC (KFH) on the basis of an explicit intent of support extended to KFHMB by KFH. KFH’s ratings reflect i...

MARC has upgraded the long term senior debt rating of Bumiputra-Commerce Holdings Berhad’s (BCHB) RM6.0 billion Conventional and Islamic CP/MTN Programme to AA and AAID from AA- and AA-ID whilst affirming its short term senior debt rating of MARC-1 and MARC-1ID. The upgrade recognises the continued earnings strength and robust internal capital generation of its banking operations, in particu...

MARC has assigned a AAA rating to Woori Bank’s (Woori) RM1.0 billion Medium-Term Notes Programme (MTN). The rating carries a stable outlook. The rating reflects Woori’s above average competitive position, underpinned by its strong retail and corporate franchises in Korea and extensive network of branches, its solid asset quality and consistent financial performance, good capital base a...

MARC has withdrawn the AA- rating assigned to Bumiputra-Commerce Holdings Berhad’s (BCHB) RM250.0 million nominal value Redeemable Unsecured Bonds   with immediate effect following BCHB’s full redemption of the bonds on May 22, 2008....

MARC has withdrawn the AAA rating assigned to ASRB’s RM5.0 million Tranche 1 under Notes Series A of its RM250.0 million Medium-Term Notes (MTN) Programme with immediate effect following the full redemption of Tranche 1 on April 25th, 2008. MARC’s rating obligation in respect of ASRB’s up to RM250.0 MTN programme is now limited to the RM20.0 million currently outstanding under th...

MARC has affirmed AmInvestment Bank Berhad’s (AmInvestment) financial institution ratings of AA-/MARC-1. The ratings outlook is stable. The rating affirmation acknowledges AmInvestment’s sustainable franchise value, stable asset quality, high operating efficiency and sound risk management practices, as well as the very competitive environment for investment banking. The ratings incorpo...

MARC has upgraded the ratings on Hong Leong Financial Group Berhad’s (HLFG) RM800 million commercial papers and medium term notes (CP/MTN) facilities [2007 to 2014], and RM300 million CP/MTN facilities [2002 to 2009] to AA-/MARC-1 from A+/MARC-1. The ratings outlook is stable. The upgrade reflects the consistent and improving profitability of the financial services group which has allowed HL...

MARC has assigned a rating of AA+ to the proposed RM500 million senior unsecured ringgit bonds to be issued by State Bank of India (SBI). The rating reflects the bank’s position as the largest commercial bank in India, amidst consolidation in the Indian banking system and intensifying domestic competition from private banks and other public sector banks, and its strong financial profile, und...

MARC has reaffirmed 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 reaffirmed ratings reflect the low defaults and delinquencies of the receivables backing the notes; and ample cash balances in the designated accounts ...

The ratings of RCE Premier Sdn Bhd’s (RCEP) RM45.0 million Fixed Rate Serial Bonds and up to RM50.0 million CP programme have been reaffirmed at A and MARC-2, respectively. The reaffirmed ratings reflect the low average monthly delinquency and default rates of the consumer receivables and loans portfolios backing the bonds and CPs; and ample cash balances in the designated accounts to meet n...