S&P assigns Maybank notes A-

Standard & Poor's said it assigned its A- long-term foreign currency issue rating to the issue of HK$572 million fixed-rate senior unsecured notes by Malayan Banking Bhd.

The agency said it also assigned its cnAA Greater China credit scale rating to the notes.

According to S&P, the issue is a drawdown under the bank's $2 billion multicurrency medium-term notes program and proceeds are expected to be used for working capital, general banking and other corporate purposes.

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