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MARC Ratings has withdrawn its ratings of MARC-1/MARC-1IS on Cagamas Berhad’s Conventional and Islamic Commercial Papers (CCP/ICP) programme with a combined aggregate limit of RM20 billion. The withdrawal follows the expiry of the programme on June 23, 2022 upon full redemption of the outstanding RM400 million under the programme as confirmed by the facility agent. The rating agency’s ana...
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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.KFH Malaysia’s long-term AA+ FI rating is notched down from the AAA FI rating of its 100%-owned parent Kuwait Finance House KSC (KFH) whose FI rating reflects the very high likelihood of support from the Kuwaiti governm...
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MARC Ratings has upgraded Bank Muamalat Malaysia Berhad’s financial institution ratings to A+/MARC-1 from A/MARC-1 and concurrently upgraded its rating on the bank’s Islamic Senior Notes Programme (Senior Sukuk) of up to RM2.0 billion to A+IS. The ratings outlook is stable. The ratings upgrade is premised on Bank Muamalat’s continued improvement in its financial performance, parti...
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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 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 limit...
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MARC Ratings has assigned a final rating of A+IS to MBSB Bank Berhad’s RM5.0 billion Islamic Medium-Term Notes (Sustainability Sukuk Wakalah) Programme. The outlook on the rating is stable.The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the preliminar...
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MARC Ratings has assigned a “Silver” Sustainability Sukuk Assessment to MBSB Bank Berhad’s ASEAN Sustainable and Responsible Investment (SRI) Sustainability Sukuk Framework (the Framework). The Framework identifies a total of 13 Eligible Categories, each of which contributes to one or more sustainability objectives and United Nations’ Sustainable Development Goals (SDGs). MARC Ratings is o...
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MARC Ratings has withdrawn its financial institution (FI) rating of AAA on the Export-Import Bank of Korea (KEXIM), as well as its AAA rating on KEXIM’s Medium-Term Notes (MTN) programme of RM1.0 billion. The rating withdrawal on the MTN programme follows its expiry on February 2, 2022. With this withdrawal, MARC Ratings will cease providing analytical coverage on KEXIM. Contacts:Haziq Najm...
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MARC Ratings has withdrawn its ratings of AA+/AA+IS on CIMB Bank Berhad’s RM5.0 billion Tier 2 Subordinated Debt and Junior Sukuk programmes. The ratings withdrawal follows the termination of the programmes as confirmed by the facility agent.MARC Ratings’ analytical coverage on CIMB Bank’s issuance is now limited to the bank’s RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Pro...
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MARC Ratings has assigned its financial institution (FI) rating of A+ to MBSB Bank Berhad and a preliminary rating of A+IS to the bank’s proposed RM5.0 billion Sukuk Wakalah programme. The outlook on the ratings is stable.MBSB Bank’s strength in banking and financing, particularly in personal financing, and a strong capitalisation that has been well supported by its ultimate shareholder, Emplo...
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