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Issue Rating On ELM B.V.'s Proposed Notes Withdrawn May 11 Product Image

Issue Rating On ELM B.V.'s Proposed Notes Withdrawn May 11

  • ID: 1806028
  • May 2011
  • Standard & Poors

Abstract
SINGAPORE (Standard & Poor's) May 27, 2011--Standard & Poor's Ratings Services today withdrew its 'BBB-' issue rating on the proposed perpetual fixed-rate secured notes to be issued by repackaging vehicle ELM B.V. The notes are secured over proposed Singapore dollar-denominated stapled securities of Malaysia's CIMB Bank Bhd.'s (BBB+/Stable/A-2). The rating withdrawal followed CIMB Bank's decision not to pursue its previously planned offering. RELATED CRITERIA AND RESEARCH ELM B.V. Notes Rated 'BBB-'; Secured By CIMB Bank Bhd.'s Proposed Stapled Securities, Sept. 10, 2008...

Companies mentioned in this report are:
- ELM B.V.
- CIMB Bank Bhd.

Action: Withdrawn

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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