MARC again affirms Kuwait Finance House (Malaysia) at AA+/MARC-1
MARC has affirmed Kuwait Finance House (Malaysia) Berhad's (KFHMB) long-term and short-term financial institution (FI) ratings of AA+/MARC-1 and concurrently affirmed the FI ratings of AAA/MARC-1 on its parent bank, Kuwait Finance House K.S C. (KFH) based on public information. The outlook on the ratings is stable. KFHMB’s long-term rating is notched down from that of its parent bank, premised on MARC’s expectation of a very high likelihood of parental support, stemming from KFHMB’s position as a strategically important subsidiary and from the parent bank’s past record of extending support to the subsidiary. The rating agency also considers the risk of potential removal of parental support as low in view of the importance attached to KFHMB as KFH’s growth vehicle in the region.