KUALA LUMPUR : Moody's Investors Service has relegated an A3 long haul remote cash senior unsecured obligation rating to Malayan Banking Bhd's HK$378mil (RM204.5mil) senior notes.
The rating house said on Thursday, the notes issued under the bank's US$15.0bil (RM62.9bil) multicurrency medium term note (MTN) program, have a settled rate coupon of 2.05% for every annum. The notes will develop on Oct 12, 2021.
"The attitude toward the A3 obligation rating is steady, in accordance with the steady point of view toward Maybank's A3 store evaluations and Malaysia's A3 sovereign appraisals," it said.
It said the A3 rating appointed to the HK$ notes is in accordance with Maybank's A3 remote cash store rating.
The HK$ notes constitute an unequivocal, unsubordinated and unsecured commitment of Maybank, and rank pari-passu with Maybank's other senior unsecured commitments.
The rating house noticed that an update of the Malaysia A3 sovereign rating would likely prompt an overhaul of Maybank's A3 outside cash store and senior obligation appraisals, expecting the bank's standalone credit measurements stay strong.
Be that as it may, it said Maybank's long haul FICO scores could be brought down if there should be an occurrence of a critical debilitating of the bank's standalone credit profile, bringing about a multi-indent minimization of the bank's pattern credit appraisal.
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