RAM Ratings reports that it has received confirmation that OCBC Bank (Malaysia) Berhad fully redeemed its MYR 200 million Redeemable Islamic Subordinated Bonds (2006/2021) on 24 November 2016. As such, the agency no longer have any rating obligation in respect of the facility, which previously carried a rating of AA1/Stable.
RAM maintains rating surveillance on OCBC Malaysias AAA/Stable/P1 financial institution ratings while the Banks MR 600 million Redeemable Subordinated Bonds (2012/2022) and MYR 400 million Innovative Tier-1 Capital Securities (2009/2039) continue to be rated AA1/Stable and AA2/Stable, respectively.
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