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Fitch affirms ratings of 3 Malaysian banks

Fitch Ratings affirmed the long-term issuer default ratings of Malayan Banking Bhd., Hong Leong Bank Bhd. and Export-Import Bank of Malaysia Bhd. at A-, with stable outlooks.

The rating agency said it also affirmed the short-term foreign-currency issuer default ratings of Hong Leong Bank and Maybank at F2. The two banks' viability and support ratings were affirmed at "a-" and 2, respectively. Maybank support rating floor was affirmed at BBB, while the support rating floor of Hong Leong Bank was affirmed at BBB-, the rating agency said.

Fitch said Hong Leong Bank's ratings are backed by its conservative risk appetite and steady funding and liquidity profile. Maybank's ratings reflect its strong franchise, stable funding and liquidity and steady pre-provision earnings and balance-sheet buffers.

Meanwhile, Export Import Bank of Malaysia's support rating was affirmed at 1 and its support rating floor was affirmed at A-.

The ratings of Export Import Bank of Malaysia are equivalent to the Malaysia sovereign ratings and reflect the probability of gaining extraordinary state support, if necessary.