Fitch downgrades Mexim

Fitch Ratings said it downgraded the Export-Import Bank of Malaysia Bhd.’s issuer default rating to BBB+ from A-.

The rating action follows the downgrade of Malaysia’s long-term IDRs to BBB+ from A-, the agency said.

“Mexim’s IDR is equalized with Malaysia’s sovereign rating. This reflects our expectations of a high probability of extraordinary state support for the bank, if needed, due to its long-standing policy mandate, full state ownership and record of financial support from the state,” Fitch said in a press release.

The outlook is stable.

© 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.