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RAM Ratings withdraws ratings of Hong Leong Financial Group’s RM1.8 bil CP/MTN Programme

Published on 22 Sep 2020.

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RAM Ratings has received confirmation that Hong Leong Financial Group Berhad (HLFG) had fully redeemed its RM1.8 billion Commercial Papers/Medium-Term Notes Programme (2011/2031) and subsequently cancelled the facility on 17 September 2020. Consequently, we have withdrawn the AA1/Stable/P1 ratings of the programme and no longer have any rating obligation in respect of the facility.

We will, however, maintain surveillance of HLFG’s AA1/Stable/P1 corporate credit ratings as well as the ratings of the debt programmes listed in the table below.

Instruments

Ratings

RM25 bil Multi-Currency Senior Notes, Tier-2 Subordinated Notes, and Additional Tier-1 Capital Securities Programme (2017/2117)*

  1. Senior Notes
  2. Tier-2 Subordinated Notes
  3. Additional Tier-1 Capital Securities

 

AA1/Stable

AA2/Stable

A1/Stable

RM3 bil Commercial Papers Programme (2017/2025)*

P1

*Combined limit of RM25.0 bil

 

 

Analytical contact
Goh Kwan Kheen, Timothy
(603) 3385 2496
timothy@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



Ratings on Hong Leong Financial Group Berhad

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