IN BRIEF (Page 9)

Dagong issues currency ratings

Dagong Global Credit Rating Co Ltd on Friday assigned CIMB Bank Berhad, a core subsidiary of the second-largest bank holding group in Malaysia, as AA for a long-term local currency issuer rating, and AA- for long term foreign currency issuer rating, both with positive outlooks.

It is the first time for Dagong, who used to publish sovereign credit ratings only, to rate an international bank, and the first time for CIMB to be rated by a non-Western rating agency.