Fitch rates CIMB Thai Bank notes A-

Fitch Ratings said it assigned CIMB Thai Bank PCL the following ratings: national long-term A+ with stable outlook, national short-term F1, long-term foreign currency issuer default rating of BBB- with a stable outlook, short-term foreign currency issuer default rating of F3 and individual D.

Fitch said it also upgraded the support rating to 2 from 3 and assigned CIMB Thai's upper tier 2 debt issued in March 2009 a national rating of A-.

The upgrade of the support rating reflects increased support from new majority shareholder CIMB Bank Bhd. (BBB+/stable) through a capital injection, management control and direct name association with its parent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.