Research Update: CIMB Bank And CIMB Investment Bank Ratings Raised To 'A-' On Revised Criteria, CIMB Group Affirmed; Outlook Stable Dec 11
Standard & Poors, December 2011
Abstract
Following a review under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we have raised our ratings on CIMB Bank Bhd. (CIMBB) to 'A-' from 'BBB+' and CIMB Investment Bank Bhd. (CIMBIB) to 'A-' from 'BBB'. We have also affirmed our rating on CIMB Group Holdings Bhd. (CIMBG) at 'BBB-'. The outlook on the long-term ratings is stable. Our rating on CIMBB reflects its 'bbb' anchor, "strong" business position, "moderate" capital and earnings, "adequate" risk position, "above-average" funding, and "strong" liquidity. The rating on CIMBB benefits from one notch of uplift for potential extraordinary government support in the event of financial distress. The rating on CIMBIB benefits from its status as the core member of the CIMB...
Companies mentioned in this report are: CIMB Bank Bhd.,CIMB Investment Bank Bhd.,CIMB Group Holding Bhd.
Action: Affirmed
Action: Outlook: Stable
Action: Upgraded
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
CIMB Bank Bhd.,CIMB Investment Bank Bhd.,CIMB Group Holding Bhd.
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