KUALA LUMPUR, Nov 20 — Moody’s Investors Service has affirmed the local and foreign currency ratings of nine financial institutions in Malaysia.
The affected financial institutions are CIMB Bank, CIMB Islamic Bank, Cagamas, EXIM Bank, HSBC Bank Malaysia, Hong Leong Bank, Maybank, Public Bank and Standard Chartered Bank Malaysia.
“At the same time, we have revised to positive from stable the outlook of their foreign currency deposit, issuer and senior unsecured debt and programme ratings.
“Local currency ratings outlooks remain stable, except for those of Cagamas and EXIM Bank, which are revised to positive from stable,” it said in a statement here today.
Moody’s said the rating actions are linked to its revision of the outlook on Malaysia’s A3 sovereign rating to positive from stable.
It said an improvement in the government’s own creditworthiness, as measured by its sovereign rating, has the potential to lift the banks’ supported ratings, with the assignment of a positive outlook on the sovereign and bank ratings signalling an increase in the probability of this scenario. — Bernama
