Fitch Ratings has affirmed Malayan Banking Bhd’s (Maybank) and Hong Leong'Bank's long-term issuer default ratings (IDRs) at 'A-' and 'BBB+.'
However, the ratings agency said on Wednesday the Negative Outlook on Maybank was retained due to rising risks to the macroeconomic outlook and the possible impact on Maybank's credit profile.
“Maybank's IDRs and viability ratings (VR) reflect its strong domestic franchise, reasonable asset quality and earnings track record, adequate earnings, provisioning and capital loss-absorption buffers, sound liquidity position and good access to capital, with strong government-linked shareholders on the register,” it said.
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However, the ratings agency said on Wednesday the Negative Outlook on Maybank was retained due to rising risks to the macroeconomic outlook and the possible impact on Maybank's credit profile.
“Maybank's IDRs and viability ratings (VR) reflect its strong domestic franchise, reasonable asset quality and earnings track record, adequate earnings, provisioning and capital loss-absorption buffers, sound liquidity position and good access to capital, with strong government-linked shareholders on the register,” it said.
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