Business Services Industry
S&P upgrades Maybank rating one notch higher, BUSINESS TIMES
Business Times (Malaysia), May, 2002 by Habhajan Singh
Business Times (Malaysia) 05-16-2002 STANDARD & Poor's (S&P) has upgraded its long-term counter party rating for Malayan Banking Bhd (Maybank) a notch higher from BBB minus to BBB with a stable outlook. The upgrade places Maybank in the same rating basket with four other large local corporations - Malaysia International Shipping Corp (MISC), Petroliam Nasional Bhd (Petronas), Telekom Malaysia Bhd and Tenaga Nasional Bhd.
"The bank has recently demonstrated improved profitability, albeit assisted partly by the nascent recovery in the Malaysian economy," said S&P credit analyst Adrian Chee. He said the performance, supported by higher fee income contributions and lower loan-loss provisioning charges, compares well with most of its domestic...
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