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PETALING JAYA: The decision to discontinue the Malayan Banking Bhd’s (Maybank) rating services by Fitch Ratings was undertaken by Maybank as part of its overall effort to streamline rating assessments by rating agencies.

“The bank continues to be rated by international and domestic rating agencies namely Moody’s Investor Services, Standard & Poor’s (S&P) as well as RAM Rating Services Bhd,“ a Maybank spokesman said in a statement today.

Earlier, Fitch Ratings announced plans to withdraw the ratings on Maybank and international ratings on PT Bank Maybank Indonesia Tbk (Maybank Indonesia) on or about Sept 23, 2021 for commercial reasons.

Fitch currently maintains international ratings on Maybank and Maybank Indonesia as follows:

Maybank

> Long-Term Foreign-Currency Issuer Default Rating ‘BBB+’; Outlook Stable

> Short-Term Issuer Default Rating ‘F2’

> Long-Term Local-Currency Issuer Default Rating ‘BBB+’; Outlook Stable

> Viability Rating ‘bbb+’

> Support Rating ‘2’

> Support Rating Floor ‘BBB’

Issue ratings

> US$15 billion multicurrency medium-term note programme: ‘BBB+’

> HK$701 million senior unsecured note due Jan 18, 2023: ‘BBB+’

> US$100 million senior unsecured note due March 19, 2023: ‘BBB+’

> ¥10 billion senior unsecured note due Dec 22, 2026: ‘BBB+’

> US$45 million senior unsecured note due June 18, 2029: ‘BBB+’

Maybank Indonesia

> Long-Term Foreign-Currency Issuer Default Rating ‘BBB’; Outlook Stable

> Short-Term Issuer Default Rating ‘F2’

> Viability Rating ‘bb’

> Support Rating ‘2’

“Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Fitch believes that investors benefit from increased rating coverage by Fitch and is providing 30 days’ notice to the market of the withdrawal of the ratings on Maybank and Maybank Indonesia. Ratings are subject to analytical review and may change up to the time Fitch withdraws the ratings,“ Fitch said.

Fitch’s last rating action for Maybank was on Dec 15, 2020, and that for Maybank Indonesia was Feb 10, 2021.

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