Danajamin Nasional Has Ratings Approved By MARC; Outlook Stable

The Malaysian Rating Corporation (MARC) has affirmed its insurer financial strength (IFS) rating and counterparty credit ratings of Danajamin Nasional (Danajamin) of AAA and AAA/MARC-1, respectively. The ratings on the Senior and Subordinated Sukuk Murabahah worth up to MYR 2.0 billion (under Danajamin's Sukuk Murabahah programme) have also been affirmed at AAAIS and AA+IS. MARC maintains a Stable Outlook on all ratings.

Ratings Rationale

Key drivers of the IFS rating include Danajamin's status as a state-owned financial guarantee insurer, as well as its perceived solid support from the Government of Malaysia. Danajamin’s strong capitalisation and healthy liquidity position are also considered in the rating.

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