Published on 24 Feb 2020.
RAM Ratings has received confirmation that Public Bank Berhad (the Bank) and PBFIN Berhad (PBFIN) fully redeemed and cancelled their respective RM5.0 bil Non-Cumulative Perpetual Capital Securities and RM5.0 bil Subordinated Notes under their Non-Innovative Tier-1 Stapled Securities Programme (2009/2066) on 9 December 2019. PBFIN is the Bank’s funding conduit. As such, we have withdrawn the AA2/Stable ratings of both facilities and no longer have any rating obligation on them.
We will, however, maintain surveillance of Public Bank’s AAA/Stable/P1 financial institution ratings and the ratings of the Bank’s following facilities:
Ann Kimberly Lee
(603) 3385 2533
(603) 3385 2577
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.
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Similarly, the disclaimers above also apply to RAM Ratings’ credit-related analyses and commentaries, where relevant.
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Ratings on Public Bank Berhad