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RAM Ratings withdraws AmBank’s issue ratings following redemption

Published on 21 Oct 2019.

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RAM Ratings has received confirmation that AmBank (M) Berhad’s RM500 mil Innovative Tier-1 Capital Securities Programme (2009/2069) has been fully redeemed and cancelled and that its RM1 bil Negotiable Instruments of Deposit have expired. As such, we have withdrawn the respective A1/Stable and AA2/Stable ratings of the facilities and no longer have any rating obligation in respect of them.

However, we will maintain surveillance of the Bank’s AA2/Stable/P1 financial institution ratings and the ratings of the following facilities:

Instrument

Rating

RM7 bil Senior Notes Issuance Programme (2010/2040)

AA2/Stable

RM4 bil Tier-2 Subordinated Notes Programme (2013/2043)

AA3/Stable

 

Analytical contact
Lim Yu Cheng, CFA, FRM
(603) 3385 2492
yucheng@ram.com.my

Media contact
Padthma Subbiah
(603) 3385 2577
padthma@ram.com.my

 

The credit rating is not a recommendation to purchase, sell or hold a security, inasmuch as it does not comment on the security’s market price or its suitability for a particular investor, nor does it involve any audit by RAM Ratings. The credit rating also does not reflect the legality and enforceability of financial obligations.

RAM Ratings receives compensation for its rating services, normally paid by the issuers of such securities or the rated entity, and sometimes third parties participating in marketing the securities, insurers, guarantors, other obligors, underwriters, etc. The receipt of this compensation has no influence on RAM Ratings’ credit opinions or other analytical processes. In all instances, RAM Ratings is committed to preserving the objectivity, integrity and independence of its ratings. Rating fees are communicated to clients prior to the issuance of rating opinions. While RAM Ratings reserves the right to disseminate the ratings, it receives no payment for doing so, except for subscriptions to its publications.

Similarly, the disclaimers above also apply to RAM Ratings’ credit-related analyses and commentaries, where relevant.

Published by RAM Rating Services Berhad
© Copyright 2019 by RAM Rating Services Berhad



Ratings on AmBank (M) Berhad

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