RAM Rating Services has assigned an AA2/Stable rating to CIMB Bank Bhd’s RM10bil tier-2 subordinated debt programme (2013/2073).
The ratings agency said on Friday this applied to issuances on or after Jan 1, 2016 under CIMB Bank (rated AAA/Stable/P1) debt programme.
“This follows the amendments made to the terms of the issuances on or after Jan 1, 2016, such that the non-viability event (NVE) will be linked to CIMB Bank as well as CIMB Group Holdings Bhd (rated AA1/Stable/P1) and its subsidiaries. To date, there has been no issuance on or after Jan 1, 2016,” it said.
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The ratings agency said on Friday this applied to issuances on or after Jan 1, 2016 under CIMB Bank (rated AAA/Stable/P1) debt programme.
“This follows the amendments made to the terms of the issuances on or after Jan 1, 2016, such that the non-viability event (NVE) will be linked to CIMB Bank as well as CIMB Group Holdings Bhd (rated AA1/Stable/P1) and its subsidiaries. To date, there has been no issuance on or after Jan 1, 2016,” it said.
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