Moody’s Buys Stake in Malaysian Rating Corporation Berhad
Posted on 08/13/2020
Ratings agency Moody’s Corporation acquired a minority stake in Kuala Lumpur-based Malaysian Rating Corporation Berhad (MARC). Malaysian Rating Corporation provides credit rating services covering corporates and financial institutions, with major strength in infrastructure and project finance. Moody’s is making a move on the Islamic finance scene by buying a stake in MARC.
Malaysian Rating Corporation will remain separate from Moody’s Investor Services and continue functioning as an independent entity. Some shareholders of MARC include Etiqa Insurance Bhd, AmGeneral Insurance Bhd, JF Apex Securities Bhd, India-based CARE Ratings Limited, and Kenanga Investment Bank Bhd. CARE Ratings Limited operates as a credit rating agency.
