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Bumiputra-Commerce Off Watch Neg And Affirmed; CIMB Bank, CIMB Investment Bank Outlooks Stable Nov 06
Standard & Poors, Nov 2006
Abstract
SINGAPORE (Standard & Poor's) Nov. 17, 2006--Standard & Poor's Ratings Services said today it affirmed its 'BBB-/A-3' counterparty credit ratings on Malaysia's Bumiputra-Commerce Holdings Bhd. (BCHB) and removed them from CreditWatch with negative implications. The outlook is stable. At the same time, Standard & Poor's revised the outlook on the 'BBB/A-2' counterparty credit ratings on CIMB Investment Bank Bhd. (CIMB IB; previously called Commerce International Merchant Bankers Bhd.) and 'BBB+/A-2' counterparty credit ratings on CIMB Bank Bhd. (CIMB Bank; previously Bumiputra-Commerce Bank Bhd.) to stable from developing. The ratings have also been affirmed. The ratings on BCHB were placed on CreditWatch following its announcement in March 2006 that it would acquire Southern Bank Bhd. (SBB), Malaysia's eighth-largest bank. BCHB has...
Companies mentioned in this report are: CIMB Group Holding Bhd.,CIMB Bank Bhd.,CIMB Investment Bank Bhd.
Action: Affirmed
Action: Outlook: Stable
Action: Removed From CreditWatch
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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