Fitch affirms Kasikornbank

Fitch Ratings said it affirmed Kasikornbank plc's long-term foreign-currency issuer default rating at BBB+, short-term foreign-currency issuer default rating at F2, individual rating at C, support rating at 2 and its long-term foreign-currency subordinated debt at BBB. The bank's support rating floor remains unchanged at BBB-. The agency also said it affirmed the bank's national long-term rating at AA(tha), national short-term rating at F1+(tha), national long-term and short-term senior unsecured debt rating at AA(tha) and F1+(tha), respectively, and its subordinated debt at national long-term AA-(tha).

The outlook remains stable.

The ratings reflect the sustained improvement in the bank's underlying profitability, its asset quality and capital and its strong domestic banking franchise in the middle market, corporate and retail banking, the agency said. The bank's debt ratings are currently capped by the Thailand's sovereign rating, BBB+ with stable view, Fitch added.

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