Moody's cuts Thai banks view to negative

Moody's Investors Service said it revised the outlook of the foreign-currency debt and deposit ratings of eight Thai banks to negative from stable.

This action follows the change in outlook to negative for Thailand's A3 foreign-currency bond country ceiling, Baa1 foreign-currency deposit ceiling, and Baa1 foreign- and local-currency government ratings.

While none of the bank financial strength ratings were affected by the outlook change, Moody's said it is in the process of assessing the impact of the accompanying lower GDP forecast on all Thai bank ratings.

The affected banks with negative outlooks include:

Bangkok Bank's D+ bank financial strength rating and P-2 foreign-currency short-term deposit rating;

Export-Import Bank of Thailand's D bank financial strength rating and Baa/prime-2 foreign currency deposit rating and Baa2 foreign-currency senior unsecured debt rating;

Government Housing Bank of Thailand's E+ bank financial strength rating and prime-2 foreign-currency short-term deposit rating;

Kasikornbank plc's D+ bank financial strength rating and prime-2 foreign-currency short-term deposit rating and A3/prime-1 local-currency deposit rating;

Krung Thai Bank's D- bank financial strength rating, prime-2 foreign-currency short-term deposit rating, A3/prime-1 local-currency deposit rating and Baa3 preferred stock;

Siam City Bank plc's D bank financial strength rating, Baa2/prime-3 foreign-currency deposit rating, Baa2 foreign-currency senior unsecured debt rating, Baa3 foreign-currency subordinated debt rating and prime-3 short-term debt rating;

Siam Commercial Bank plc's D+ bank financial strength rating, prime-2 foreign-currency short-term deposit rating and A3/prime-1 local-currency deposit rating;

Standard Chartered Bank (Thai) plc's D+ bank financial strength rating, prime-2 foreign-currency short-term deposit rating, prime-2 short-term foreign-currency issuer rating, A3/prime-1 local-currency deposit rating and prime-1 local-currency short-term issuer rating.

TMB Bank plc's D- bank financial strength rating, Baa2/prime-2 foreign-currency deposit rating and B1 foreign-currency preferred stock;

United Overseas Bank (Thai) plc's D bank financial strength rating and prime-2 foreign-currency short-term deposit rating.

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