Find A Rating 
PRESS RELEASES
RAM Ratings affirms AAA/Stable rating of Cagamas MBS’s CMBS 2007-1-i
Published on 16 Jun 2026.
RAM Ratings has affirmed the AAA/Stable rating of Cagamas MBS Berhad’s (CMBS) residential mortgage-backed securities (CMBS 2007-1-i), premised on its fully cash-backed status and robust credit protection. The RM290 mil outstanding balance has an overcollateralisation ratio of 251.08% as at end-October 2025.
CMBS is a special-purpose entity set up to securitise government staff housing loans and Islamic home financing provided by Lembaga Pembiayaan Perumahan Sektor Awam (LPPSA), which manages public sector housing finance. Repayments are made through direct salary and pension deductions, reducing borrower credit risk. LPPSA's servicing remained adequate during the review period.
Analytical contacts
Joel Thum
(603) 2708 8232
joel@ram.com.my
Tan Han Nee
(603) 2708 8322
hannee@ram.com.my
Media contact
Sakinah Arifin
(603) 2708 8212
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
© Copyright 2026 by RAM Rating Services Berhad
