Fitch rates Mexim notes A-

Fitch Ratings said it assigned an expected rating of A- to Export Import Bank of Malaysia Bhd.'s (Mexim) proposed dollar-denominated senior notes, which will be issued under its $3 billion multi-currency medium-term note program.

The notes are rated at the same level as Mexim’s A- long-term foreign-currency issuer default rating.

This is because the notes will constitute direct and unsecured obligations of the bank, Fitch said, and rank equally with all its other unsecured and unsubordinated obligations.

Any change in Mexim’s issuer default rating will have a corresponding effect on the rating on the notes, the agency explained.

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