(The following statement was released by the rating agency)
July 25 - Standard & Poor’s Ratings Services today assigned its ‘A-’ unsolicited issue rating to the recently announced US$350 million 2.375% senior unsecured notes by CIMB Bank Bhd . (CIMBB; A-/Stable/A-2). The notes will be issued under the bank’s US$1 billion euro medium-term notes program. The notes have a tenor of five years.
The rating on the notes reflects the long-term issuer credit rating on CIMBB. The notes constitute direct, unconditional, unsecured, and unsubordinated obligations of CIMBB. They shall at all times rank equally among themselves and with all other unsecured obligations of the bank.
-- Banks: Rating Methodology And Assumptions, Nov. 9, 2011