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MARC has affirmed its financial institution (FI) ratings on CIMB Bank Berhad at AAA/MARC-1/Stable. Concurrently, the ratings on the bank’s existing subordinated debt programmes have been affirmed. These ratings have been notched down from the bank’s long-term FI rating based on their relative loss severity risk profiles. The subordinated debt programmes are as follows: RM10.0 billion Base...
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MARC has affirmed its long-and short-term financial institution (FI) ratings of AA- and MARC-1 on KAF Investment Bank Berhad (KAF IB) with a stable outlook.The ratings are mainly driven by KAF IB’s low-risk business model and its strong liquidity and capitalisation levels that are underpinned by a conservative investment strategy. Moderating the rating is the susceptibility of bank’s performan...
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MARC has affirmed its insurer financial strength (IFS) rating of AAA and counterparty credit ratings of AAA/MARC-1 on Danajamin Nasional Berhad (Danajamin). Concurrently, the rating agency affirmed the ratings of AAAIS and AA+IS on the Senior and Subordinated Sukuk Murabahah of up to RM2.0 billion under Danajamin’s Sukuk Murabahah programme. The outlook on all ratings is stable.The IFS rating af...
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MARC has affirmed its financial institution (FI) ratings of AAA/MARC-1 on Islamic Development Bank (IsDB), as well as its rating of AAAIS on the Sukuk Wakalah programme of up to RM400 million issued by Tadamun Services Berhad, a trust established by IsDB. The outlook on the ratings is stable.The affirmed FI ratings reflect IsDB’s preferred creditor status as a multilateral development bank (MDB)...
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MARC has affirmed its long- and short-term financial institution (FI) ratings of AA+/MARC-1 on China Construction Bank (Malaysia) Berhad (CCBM). The long-term rating of CCBM is notched down from its parent China Construction Bank Corporation’s (CCB) public information rating of AAA from MARC. The outlook on all ratings is stable. CCB’s rating reflects its majority-owned status by the Chinese g...
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MARC has affirmed its financial institution (FI) rating of AAA on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook.The rating is driven by CGC’s status as a development financial institution (DFI) for which the government through Bank Negara Malaysia (BNM), CGC’s main shareholder, has continued to provide support. In its role, CGC provides credit guarantees on loans and...
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MARC has affirmed the financial institution (FI) rating of AAA on The Export-Import Bank of Korea (KEXIM) and the issue rating of AAA on its Medium-Term Notes programme of RM1.0 billion. The FI and issue ratings are based on the domestic rating scale. The ratings outlook is stable. The FI rating on KEXIM is equalised to the Republic of Korea’s (South Korea) AAA/stable rating from MARC, refl...
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MARC has affirmed its investment manager rating (IMR) of IMR-2 on Kenanga Investors Berhad (KIB) and KIB’s wholly-owned subsidiary Kenanga Islamic Investors Berhad (KIIB).The IMR rating on KIB reflects the fund management company’s well-established investment processes, sound risk management practices and strong operating track record. These factors are moderated by a modest asset under manage...
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MARC has assigned a preliminary rating of AAA on Bank Pembangunan Malaysia Berhad’s proposed RM5.0 billion Islamic Medium-Term Notes Programme (IMTN Programme). Concurrently, the rating agency has affirmed its financial institution (FI) rating of AAA on Bank Pembangunan. The ratings outlook is stable.The FI rating and outlook are mainly premised on Bank Pembangunan’s status as a wholly governm...
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MARC has affirmed its financial institution (FI) ratings of A/MARC-1 on Bank Muamalat Malaysia Berhad (Bank Muamalat) and AIS rating on the bank’s Islamic Senior Notes Programme (Senior Sukuk) of up to RM2.0 billion. The rating on Bank Muamalat’s Senior Sukuk programme is equalised to its long-term FI ratings based on the seniority of the sukuk. The ratings outlook is stable.The FI ratings inc...
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