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CIMB Group fully redeems RM3 bil Subordinated Notes Programme

Published on 03 Apr 2020.

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RAM Ratings has received confirmation that CIMB Group Holdings Berhad had fully redeemed the outstanding note under its RM3.0 bil Subordinated Notes Programme (2009/2074) on the first optional redemption date of 3 April 2020 and cancelled the facility. As such, we have withdrawn the AA3/Stable rating of the programme and no longer have any rating obligation in respect of it. 

However, we will maintain surveillance of CIMB Group’s AA1/Stable/P1 corporate credit ratings and the ratings of its following facilities:

Ratings of CIMB Group’s financing facilities

Instrument

Rating

RM6.0 bil Conventional/Islamic MTN Programme (2008/2038)

AA1/Stable

RM6.0 bil Conventional CP Programme (2015/2022)

P1

RM10.0 bil Additional Tier-1 Capital Securities Programme (2016/-)

A1/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 2020 by RAM Rating Services Berhad



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