S&P rates Berhad notes

Standard & Poor's said it assigned its BBB+ rating to Public Bank Berhad's (A-/stable/A-2) proposed $300 million to $350 million subordinated notes issue due 2014.

The proposed subordinated notes issue will qualify for tier-2 capital under Bank Negara Malaysia's existing capital adequacy regulations.

"The ratings on Public Bank reflect its respectable domestic franchise as one of the top-tier commercial banks in Malaysia and its sound financial profile in the key areas of asset quality, profitability, and capitalization," said S&P credit analyst Adrian Chee.

© 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.