KUALA LUMPUR – Malayan Banking Bhd (Maybank) has discontinued the bank’s rating services by Fitch Ratings as part of its overall effort to streamline rating assessments by rating agencies.
“The bank continues to be rated by international and domestic rating agencies, namely Moody’s Investor Services, Standard & Poor’s, as well as RAM Rating Services Bhd,” a Maybank spokesman told Bernama today.
He said this in response to a query on Fitch Ratings’ plans to withdraw its ratings on Maybank and international ratings on PT Bank Maybank Indonesia Tbk (Maybank Indonesia).
In a statement yesterday, the credit rating agency said that it plans to withdraw its ratings on Maybank and international ratings on Maybank Indonesia “on, or about” September 23 for commercial reasons, adding that it reserves the sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient.
“Fitch believes that investors benefit from increased rating coverage by Fitch and is providing approximately 30 days’ notice to the market on the withdrawal of the ratings on Maybank and Maybank Indonesia.
“Ratings are subject to analytical review and may change up to the time Fitch withdraws the ratings,” it said.
Fitch said its last rating action for Maybank and Maybank Indonesia was on December 15, 2020 and February 10, 2021, respectively.
Fitch currently maintains international ratings on Maybank and Maybank Indonesia, which investors can refer to below.
Maybank:
- Long-Term Foreign-Currency Issuer Default Rating ‘BBB+’; Outlook Stable
- Short-Term Issuer Default Rating ‘F2’
- Long-Term Local-Currency Issuer Default Rating ‘BBB+’; Outlook Stable
- Viability Rating ‘bbb+’
- Support Rating ‘2’
- Support Rating Floor ‘BBB’
Issue ratings:
- US$15 billion multicurrency medium-term note programme: ‘BBB+’
- HK$701 million senior unsecured note due Jan 18, 2023: ‘BBB+’
- US$100 million senior unsecured note due March 19, 2023: ‘BBB+’
- ¥10 billion senior unsecured note due Dec 22, 2026: ‘BBB+’
- US$45 million senior unsecured note due June 18, 2029: ‘BBB+’
Maybank Indonesia:
- Long-Term Foreign-Currency Issuer Default Rating ‘BBB’; Outlook Stable
- Short-Term Issuer Default Rating ‘F2’
- Viability Rating ‘bb’
- Support Rating ‘2’. – Bernama, August 23, 2021
