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Fitch Rates Maybank's Floating Rate Notes Final 'A-'

(The following statement was released by the rating agency) SINGAPORE, September 23 (Fitch) Fitch Ratings has assigned Malayan Banking Berhad's (Maybank) HKD1.55bn floating rate notes, issued under the bank's USD5bn multi-currency medium-term note programme, a final rating of 'A-'. This follows the completion of the notes issue, as well as the receipt of final documents conforming to information previously received. The final rating is same as the expected rating assigned on 12 September 2013. Key Rating Drivers The notes are rated at the same level as Maybank's 'A-' Long-Term Foreign-Currency Issuer Default Rating (IDR) as they constitute direct, unconditional, unsubordinated and unsecured obligations of Maybank, and hence rank equally with all of its other unsecured and unsubordinated obligations. The proceeds from the notes are to be used for Maybank's working capital, general banking and other corporate purposes. Maybank's IDRs are driven by its intrinsic strength as underlined by its 'a-' Viability Rating. In July 2013, Fitch revised Maybank's Outlook to Negative to reflect the likely adverse impact on its risk profile in light of the sovereign's weakening risk profile. This is because of the bank's significant exposure to the financial health of the government, as well as to the domestic economy and financial markets. Further, the bank's credit profile may be pressured by growing risks in the domestic operating environment, such as rising household debt and property prices. Rating Sensitivities A change in Maybank's Foreign-Currency IDR, presently on a Negative Outlook, will have a rating impact on the notes. For more details on Maybank's ratings and credit profile, please see "Fitch Revises MEXIM's and Maybank's Outlook to Negative; Affirms IDRs", dated 31 July 2013, and Maybank's full rating report, dated 5 February 2013, available at www.fitchratings.com.">www.fitchratings.com.">www.fitchratings.com.">www.fitchratings.com. Maybank's other ratings are as follows: - Long-Term Foreign-Currency IDR 'A-'; Outlook Negative - Long-Term Local-Currency IDR 'A-'; Outlook Negative - Viability Rating 'a-' - Support Rating '2' - Support Rating Floor 'BBB' Contacts: Primary Analyst Alfred Chan Director +65 6796 7220 Fitch Ratings Singapore PTE Ltd 6 Temasek Boulevard #35-05 Suntec Tower Four Singapore 038986 Secondary Analyst Mikho Irawady Associate Director +65 6796 7230 Committee Chairperson Charlene Chu Senior Director + 86 10 8517 2112 Media Relations: Leslie Tan, Singapore, Tel: +65 67 96 7234, Email: leslie.tan@fitchratings.com. Additional information is available at www.fitchratings.com.">www.fitchratings.com.">www.fitchratings.com.">www.fitchratings.com. Applicable criteria, "Global Financial Institutions Rating Criteria", dated 15 August 2012; are available at www.fitchratings.com.">www.fitchratings.com.">www.fitchratings.com.">www.fitchratings.com. Applicable Criteria and Related Research: Global Financial Institutions Rating Criteria http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=686181 Additional Disclosure Solicitation Status http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=802771 ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.