RAM Ratings lifts developing Rating Watch on MBSB and Bank Muamalat, reinstates stable outlook

Published on 04 February 2016

RAM Ratings has lifted the developing Rating Watch on Malaysia Building Society Berhad (MBSB) and Bank Muamalat Malaysia Berhad. Concurrently, we have reinstated the stable outlook on their ratings. This follows the announcement on 2 February 2016 that merger discussions between the 2 entities have ceased.

	Previous Rating(s)	Current Rating(s)
MBSB
Financial Institution Ratings	A2/-/P1/RW_Developing	A2/Stable/P1
RM495 million Tranche 1 Structured Covered Sukuk Commodity Murabahah (2013/2021)	AA1/-/RW_Developing	AA1/Stable
RM700 million Tranche 2 Structured Covered Sukuk Commodity Murabahah (2014/2024)	AA1/-/RW_Developing	AA1/Stable
RM900 million Tranche 3 Structured Covered Sukuk Commodity Murabahah (2015/2025)	AA1/-/RW_Developing	AA1/Stable
RM900 million Tranche 4 Structured Covered Sukuk Commodity Murabahah (2015/2028)	AA1/-/RW_Developing	AA1/Stable
Bank Muamalat
Financial Institution Ratings	A2/-/P1/RW_Developing	A2/Stable/P1
RM400 million Islamic Subordinated Sukuk Programme (2011/2026)	A3/-/RW_Developing	A3/Stable

Media contact
Choong Andrea
(603) 7628 1115
andrea@ram.com.my