KUALA LUMPUR, June 30 — S&P Global Ratings has revised its outlook on five Malaysian banks—Malayan Banking Bhd (Maybank), CIMB Bank Bhd, Public Bank Bhd, RHB Bank Bhd and AmBank (M) Bhd—from “stable” to “negative”. At the same time, the rating agency said it is affirming all its...
S&P Global has an ‘A-‘ long-term and ‘A-2’ short-term issuer credit ratings on Maybank. — Reuters pic
S&P Global has an ‘A-‘ long-term and ‘A-2’ short-term issuer credit ratings on Maybank, CIMB Bank, and Public Bank, and ‘BBB+’ long-term and ‘A-2’ short-term issuer credit ratings on RHB Bank and AmBank. “Our ratings on all five banks could fall by a notch in case of a downgrade of the sovereign in the next 18-24 months,” it said in a statement.
“Our ratings on these two banks currently incorporate one notch uplift of government support from their ‘bbb’ SACP, reflecting a moderately high likelihood of government support,” it said. “The blanket moratorium on loan repayments by all retail and small- and mid-sized enterprise clients could result in lower actual NPLs and credit losses this year compared with our forecasts.
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