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S&P assigns axA to RHB Bank notes
Standard & Poor's said it assigned its axA long-term Asean regional scale rating to the outstanding Malaysian ringgit 1.3 billion subordinated notes of RHB Bank Bhd. (BBB+/stable/A-2; axA+/axA-1). The bank issued the notes, which are due Nov. 30, 2022, under its multi-currency MYR 3 billion medium-term note program.
The notes constitute direct, unsecured and subordinated obligations of RHB Bank. The rating on the notes is one notch lower than the long-term Asean regional scale rating on the bank to reflect the subordinated nature of the notes.
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