, with a stable outlook. “The ratings reflect Public Bank's respectable domestic franchise as one of the top-tier commercial banks in Malaysia and its sound financial profile in the key areas of asset quality, profitability, and capitalisation,” Standard & Poor's credit analyst Adrian Chee said in a statement.
Public Bank is Malaysia's third-largest bank in terms of loans, and the fourth-largest bank by asset size.
S&P said the bank's strong financial profile was underpinned by its improving asset quality over the past four years. – AFX-Asia
In a statement, MARC said the ratings were based on the total credit enhancement of 16.4% and 12.6% for the senior and mezzanine bonds respectively, the A weighted average rating of the underlying corporate loans portfolio, the performance tests in place to divert cashflow upon occurrence of trigger events.
The ratings were also based on the establishment of a non-amortising liquidity reserve equivalent to half the coupon of the senior and mezzanine bonds that would be partially pre-funded and built up from the excess spread, MARC said. –Bernama
ACPI is involved in the manufacture and marketing of pre-cast concrete pipes and other similar products, as well as property.
RAM said in a statement the negative outlook was premised on ACPI’s “dismal” performance during the fourth quarter of the financial year ended March 31, when its turnover dropped 15% compared with that in the third quarter, mainly due to the slower pace of construction activities, resulting from the festive holidays during the period. – Bernama
“The ratings reflect Public Bank's respectable domestic franchise as one of the top-tier commercial banks in Malaysia and its sound financial profile in the key areas of asset quality, profitability, and capitalisation,” Standard & Poor's credit analyst Adrian Chee said in a statement.
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