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UOB Malaysia fully redeems RM1 bil Tier-2 Subordinated Bonds

Published on 08 May 2020.

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RAM Ratings has received confirmation that United Overseas Bank (Malaysia) Bhd (UOB Malaysia) had fully redeemed its RM1 bil Tier-2 Subordinated Bonds (2015/2025) and subsequently cancelled the facility on 8 May 2020. Consequently, we have withdrawn the AA1/Stable rating of the Bonds and no longer have any rating obligation in respect of the facility.

We will, however, maintain surveillance of UOB Malaysia’s AAA/Stable/P1 financial institution ratings as well as the ratings of the following debt programme:

Table 1: UOB Malaysia’s issue ratings

Programme

Rating

RM8 bil Medium Term Notes Programme (2018/2118)

  • Senior Notes
  • Tier-2 Subordinated Notes

 

AAA/Stable

AA1/ Stable

 

Analytical contact
Chow Kah Mun
(603) 3385 2501
kahmun@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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