Moody's rates Mexim foreign currency A3

Moody's Investors Service said it assigned to Export-Import Bank of Malaysia Bhd. (Mexim)'s a foreign currency issuer rating of A3.

The outlook is stable.

The ratings reflect its government ownership, important role in providing financial services to support local companies in their overseas ventures, Moody's said, and Malaysia's history of support to government-related institutions and banks.

The rating also recognizes the prospects for improvement to Mexim's modest financial fundamentals as the bank undergoes a transformation led by management and the board of directors appointed in 2008, the agency said.

The rating also considers the bank's weak asset quality and the moderate post-provision profitability due to its policy role, Moody's added.

© 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.