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Malayan Banking Bhd.'s Hong Kong Dollar Fixed-Rate Notes Rated 'A-' Dec 11 Product Image

Malayan Banking Bhd.'s Hong Kong Dollar Fixed-Rate Notes Rated 'A-' Dec 11

  • Published: December 2011
  • Region: Hong Kong
  • Standard & Poors

SINGAPORE (Standard & Poor's) Dec. 9, 2011--Standard & Poor's Ratings Services today assigned its 'A-' long-term foreign currency issue rating to the issue of Hong Kong dollar 572 million fixed-rate senior unsecured notes by Malayan Banking Bhd. (Maybank: A-/Stable/A-2). We also assigned our 'cnAA' Greater China credit scale rating to the notes. The issue is a drawdown under the bank's US$2 billion multicurrency medium-term notes program (unrated). The five-year fixed-rate notes will constitute direct, unconditional, unsubordinated, and unsecured obligations of Maybank. They will rank pari passu with the bank's other obligations, and without any preference among themselves. We expect Maybank to use the proceeds from the issue for working capital, general banking, and other corporate purposes. RELATED CRITERIA AND RESEARCH...

Companies mentioned in this report are:
- Malayan Banking Bhd.

Action: New Rating

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- Malayan Banking Bhd.

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