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Malayan Banking Bhd.'s Proposed Senior Unsecured Notes Rated 'A-' Feb 12
Standard & Poors, February 2012
SINGAPORE (Standard & Poor's) Feb. 3, 2012--Standard & Poor's Ratings Services said today that it assigned its 'A-' long-term foreign currency issue rating to the proposed issue of senior unsecured notes by Malayan Banking Bhd. (A-/Stable/A-2). The proposed issue will be a drawdown under the bank's US$2 billion multicurrency medium-term note program (unrated). The rating on the notes is subject to our review of the final issuance documentation. The fixed-rate notes will constitute direct, unconditional, unsubordinated, and unsecured obligations of Maybank. They will rank pari passu with all other unsecured and unsubordinated obligations of the bank. We expect Maybank to use the proceeds from the proposed issue for working capital, general banking, and other corporate purposes. RELATED RESEARCH AND CRITERIA...
Companies mentioned in this report are: Malayan Banking Bhd.
Action: New Rating
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
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Malayan Banking Bhd.