BPAM rolls out new markets rating service
KUALA LUMPUR, May 17 — Bond Pricing Agency Malaysia (BPAM) has introduced its latest product, the Market Implied Rating (MIR).
MIR is a market-perceived credit signal, implied via market statistics and enhanced with financial mathematics.
In a statement, BPAM which delivers evaluated pricing and bond data services on the Malaysian fixed income market, said the MIR is distinct from ratings issued by credit rating agencies.
“This is because the ultimate determinant of the MIR is based on observable market data.
“The MIR benefits users from both the credit and market sectors including dealers, brokers, regulators, rating agencies and researchers as well as corporations participating in Malaysian debt capital market.
“Among the benefits the MIR provides is a timely and up-to-date credit indicator by offering a short-term, snapshot view,” said BPAM.
It also said this is based on a dynamic, objective and unbiased perspective and the degree of credit migrations as determined by market trades and perception.
BPAM’s chief executive officer Meor Amri Meor Ayob said: “For the first time ever, the availability of the MIR for the Malaysian bond and sukuk market will enable investors to have near real-time credit signals, directly derived from market trading activities.
“MIR is a globally recognised indicator and brings the level of information in the local market closer to international standards.
“This latest product from BPAM demonstrates our continued commitment to providing leading edge solutions for the ringgit fixed income market.” — Bernama