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Bulletin: Maybank Ratings Unaffected By Possible Acquisition Of Kim Eng Holdings Jan 11
Standard & Poors, Jan 2011
Abstract
SINGAPORE (Standard & Poor's) Jan. 6, 2011--Standard & Poor's Ratings Services said today that its ratings on Malayan Banking Bhd. (Maybank; A-/Stable/A-2) are not affected by the bank's possible acquisition of Kim Eng Holdings Ltd. We consider the proposed acquisition to be in line with the bank's strategy of becoming a leading regional financial services provider in Southeast Asia. The transaction would combine Maybank's commercial banking operations with Kim Eng's stock broking presence in the region. The proposed transaction could have a material impact on Maybank's capitalization, putting pressure on the bank's 'a-' stand-alone credit profile (SACP). If we lower the SACP by a notch, the counterparty credit rating would likely remain 'A-' to reflect our expectation of extraordinary government...
Companies mentioned in this report are: Malayan Banking 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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