Fitch rates Mexim foreign currency A-

Fitch Ratings said it assigned Export Import Bank of Malaysia Bhd. a long-term foreign currency issuer default rating of A-.

The outlook is stable.

The rating is the same as that of the Malaysian sovereign, reflecting expectations of a high propensity of government support in the event it is required, Fitch said.

While the bank has a weak financial track record, this has been mitigated by recapitalization and other financial support measures from the government over the past few years, the agency said.

Fitch said it believes the Malaysian government will continue to provide support in the event of stress.

© 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.