Fitch ups Maybank to A-

Fitch Ratings said it upgraded Malayan Banking Bhd.'s long-term foreign currency rating to A- from BBB+. The outlook is stable.

At the same time, the agency affirmed Maybank's long-term local currency rating of A-, individual rating of B/C and support rating of 2. Fitch's BBB+ rating on Maybank's subordinated notes due 2012 was also affirmed.

As per the rest of the industry, Fitch said there has been a gradual decline in Maybank's net interest margins over recent periods due to intensifying competition across the board, particularly for consumer loans.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.