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BULLETIN: Restructuring Of Commerce Asset-Holding Bhd Group Has No Immediate Impact On Ratings Jun 05
Standard & Poors, June 2005
Abstract
SINGAPORE (Standard & Poor's) June 7, 2005--Standard & Poor's Ratings Services today said that the ratings and outlooks on Commerce Asset-Holding Berhad (CAHB; BBB-/Stable/A-3) and its rated subsidiaries, Bumiputra-Commerce Bank Bhd. (BCB; BBB/Stable/A-2) and Commerce International Merchant Bankers Bhd. (CIMB; BBB/Stable/A-2), would not be affected by CAHB's announcement that it will streamline its organizational structure under a universal bank concept. Standard & Poor's is of the view that BCB and CIMB are core operating entities of the CAHB group and that the proposed restructuring only emphasizes the importance of these two operating subsidiaries within the group. CAHB is expected to fund most of the potential cash acquisition arising from the privatization of CIMB Berhad (CIMBB) from internal resources. Under the...
Companies mentioned in this report are: CIMB Group Holding Bhd.,CIMB Bank Bhd.,CIMB Investment Bank Bhd.
Action: Bulletin
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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