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RAM Ratings withdraws MUFG Malaysia’s sukuk rating and MUFG Bank, Ltd’s financial institution ratings
Published on 12 Nov 2024.
RAM Ratings has withdrawn the rating of MUFG Bank (Malaysia) Berhad’s (MUFG Malaysia) USD500 million Multi-Currency Sukuk Wakalah Bi Al-Istithmar Programme (2014/2024) (the Programme) upon receiving confirmation from the facility agent that the programme has expired. Concurrently, we have withdrawn the financial institution ratings of MUFG Bank, Ltd. (MUFG Ltd) at the request of MUFG Malaysia.
As such, we no longer have any rating obligation in respect of the sukuk programme or MUFG Ltd. We will, however, maintain surveillance of MUFG Malaysia’s financial institution ratings.
RAM’s rating coverage of MUFG Malaysia and MUFG Ltd at the time of the rating withdrawal is set out below:
Analytical contacts
Lee Yee Von
(603) 3385 2503
yeevon@ram.com.my
Sophia Lee
(603) 3385 2619
sophia@ram.com.my
Media contact
Sakinah Arifin
(603) 3385 2500
sakinah@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
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