Moody’s gives A3 to CIMB Bank notes

Moody's Investors Service said it assigned an A3 rating to CIMB Bank Bhd.’s dollar-denominated senior unsecured notes due in March 2020 and March 2022.

The notes will be issued pursuant to CIMB Bank's $5 billion euro medium-term note program.

The outlook is stable.

The A3 rating assigned to the notes is in line with CIMB Bank's A3 foreign currency deposit rating, and the provisional A3 foreign currency rating assigned to the note program, the agency said.

The notes constitute an unconditional, unsubordinated and unsecured obligation of CIMB Bank, and rank pari passu with CIMB Bank's other senior unsecured obligations.

The A3 rating on the notes is based on the executed pricing supplements and the bank's euro medium-term note prospectus, Moody’s explained.

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