KUALA LUMPUR: RAM Rating Services Bhd has been named Malaysia’s Rating Agency of the Year 2017 by The Asset, a publication on Asian financial markets .
In a statement today, RAM Ratings said The Asset had presented its Triple A Rating Agency of the Year awards in Hong Kong recently.
RAM Ratings Chief Executive Officer, Foo Su Yin said this was RAM’s third consecutive year to be chosen as the country’s Rating Agency of the Year.
This year, rating agencies who were also selected as winners for various categories included, Fitch Ratings, Moody’s Investor Services and S&P Global.
“RAM is the only ASEAN rating agency to be accorded such an honour, thus reaffirming our position as the leading credit rating agency in this region,” said Foo.
RAM was selected based on its outstanding rated and published portfolio of more than 500 issuers, valued at close to US$350 billion (US$1=RM3.90).
RAM had rated 95 per cent of the country’s local financial institutions, as well as foreign banks domiciled in Malaysia.
It had a dominant share of the rated market and was a leader in insurance and takaful (Shariah-compliant insurance) ratings.
In 2017, RAM rated the world’s first green sukuk issued by Tadau Energy, a solar power player in Malaysia.
RAM Ratings was established in 1990 by Bank Negara Malaysia, as part of the “institutional infrastructure” to support the development of the country’s debt capital market.
Today, RAM is the leading credit rating agency in ASEAN and was recognised as the most influential rating agency in the region in 2011. – Bernama