Moody's affirms Maybank

Moody's Investors Service said it affirmed Malayan Banking Bhd.'s (Maybank) global local-currency long- and short-term deposit ratings at A1 /Prime-1 and foreign-currency long- and short-term deposit ratings A3/Prime-1.

The outlook is stable.

"These rating actions follow Maybank's agreement with the major shareholder of PT Bank Internasional Indonesia Tbk. to acquire a 55.7% stake in the Indonesia-based entity," Christine Kuo, a Moody's vice president, said in a written statement.

"The deal would place considerable pressure on Maybank's capital ratios, although its asset and earnings profile would not change materially post-transaction in view of BII's smaller size," Kuo said.

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