Moody’s rates Maybank notes A3

Moody’s Investors Service said it assigned an A3 long-term foreign-currency senior unsecured debt rating to Malayan Banking Bhd.’s (Maybank) S$50 million notes issued under the bank’s S$5 billion multicurrency medium-term note program.

The notes bear a fixed-rate coupon of 1.32% per year and mature July 11, 2016, Moody’s said.

The outlook is positive.

The A3 rating assigned to the notes is in line with Maybank’s A3 foreign-currency deposit rating, the agency said.

The notes constitute an unconditional, unsubordinated and unsecured obligation of Maybank, Moody’s added, and rank pari passu with the bank’s other senior unsecured obligations.

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