Moody's assigns A3 to CIMB Bank's proposed EMTN

Moody's assigned a provisional foreign currency rating of A3 to CIMB Bank's US$1 billion Multi-Currency Euro Medium Term Notes Programme.

CIMB Bank's provisional A3 senior unsecured rating is driven by its D+BFSR, which maps to a BCA of Baa3, as well as the imputed systemic support. The BFSR rating carries a positive outlook. The rating incorporates CIMB Bank's improved franchise value -- through management's on-going initiatives to strengthen it -- as well as its sound financial condition. But the rating is constrained by the bank's fair risk profile and its improving -- but still weak -- asset quality.

As the third-largest Malaysian bank in terms of assets, Moody's believes that CIMB Bank enjoys a very high probability of systemic support, leading to three notches of uplift for its A3 deposit rating from its Baa3 BCA.

CIMB Bank's long-term senior unsecured local and foreign currency debt rating stands equal to Malaysia's A3 foreign currency bond ceiling.

Follow the link for more news on

Also Read

ING disbursed $35.37b in sustainable finance in Q2

DBS inks MOU with China trade promotion council to boost Asia trade, investment

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit