Malaysia: Fitch Maintains EON Bank on Rating Watch Positive.

Section: Rating - Fitch Ratings is maintaining Malaysia-based EON Bank's ratings, including its 'BBB-' Long-term Foreign-Currency Issuer Default Rating (IDR) and its 'C/D' Individual Rating, on Rating Watch Positive. A full rating breakdown is provided below.

EON Bank's ratings have been maintained on Positive Watch as Hong Leong's proposed takeover offer for all the assets and liabilities of EON Capital (the investment holding company of EON Bank) is still pending completion. This is because of the ongoing arbitration over the disputes between Primus Pacific (a private equity fund and EON Capital's largest shareholder) and certain other shareholders and directors of EON …