Moody's: Malaysia banks upgraded

Moody's Investors Service said it published the rating results for banks in Malaysia as part of the application of its refined joint-default analysis and updated bank financial strength rating methodologies.

The specific ratings changes include:

CIMB Bank Bhd's bank financial strength rating is upgraded to D+ with a stable outlook from D- with a positive outlook. The foreign-currency deposit ratings are unchanged at A3/prime-1 and the foreign-currency debt rating for subordinated obligations is unchanged at Baa1.

Hong Leong Bank Bhd's bank financial strength rating is upgraded to C- from D+, global local-currency deposit ratings are assigned at A2/prime-1, foreign-currency deposit ratings are upgraded to A3/prime-1 from Baa1/prime-2, foreign-currency debt rating for subordinated obligations is upgraded to A3 from Baa2.

Malayan Banking Bhd's global local-currency deposit ratings are assigned at A1/prime-1, foreign-currency debt rating for subordinated obligations (including the subordinated sukuk certificates issued by MBB Sukuk Inc.) is upgraded to A3 from Baa1 and is constrained by the country ceiling. The bank financial strength rating is unchanged at C. The local- and foreign-currency deposit ratings are unchanged at A3/prime-1.

Public Bank Bhd's global local-currency deposit ratings assigned are A1/prime-1, foreign-currency debt rating for subordinated obligations is upgraded to A3 from Baa1 and is constrained by the country ceiling. The foreign-currency rating for preferred stock is upgraded to A3 from Baa2. The bank financial strength rating is unchanged at C. The foreign-currency deposit ratings are unchanged at A3/prime-1.

AmBank Bhd is affirmed at D-/Baa2/prime-3. CIMB Investment Bank Bhd is affirmed at D/A3/prime-1. EON Bank Bhd is affirmed at D/Baa2/prime-3 and RHB Bank Bhd is affirmed D/A3/prime-1.

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