S&P affirms CIMB ratings, ups investment bank credit profile

Companies like CIMB Group Holdings Bhd, Hong Leong Financial Group Bhd (HLFG) and AmBank Group Bhd may have to beef up their capital structures by 2019.

KUALA LUMPUR: S&P Global Ratings affirmed its A- long-term and A-2 short-term issuer credit ratings on CIMB Bank Bhd (CIMBB) and CIMB Investment Bank Bhd (CIMBIB).

It said on Tuesday the outlook on the long-term rating was stable. CIMBB is the main operating subsidiary of CIMB Group Holdings Bhd (CIMB Group), and CIMBIB is the investment banking subsidiary of CIMB Group.