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Hong Leong Assurance Berhad redeems RM500 million Subordinated Bonds (2013/2025)

Published on 19 Feb 2020.

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RAM Ratings has withdrawn the AA3/Stable rating of Hong Leong Assurance Berhad’s (HLA) RM500 million Subordinated Bonds (2013/2025) following the exercise of the call option to fully redeem the securities and subsequent termination of the facility on 11 February 2020. As such, RAM no longer has any rating obligation in respect of the programme. 

We will, however, maintain surveillance of HLA’s AA2/Stable/P1 insurer financial strength ratings and the AA3/Stable rating of its RM2.0 billion Subordinated Notes Programme (2020/-).

 

Analytical contact
Ann Kimberly Lee 
(603) 3385 2533
annkimberly@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 2020 by RAM Rating Services Berhad



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