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.
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