S&P rates Kasikornbank notes BBB+

Standard & Poor's said it assigned its BBB+ long-term issue rating to a proposed issue of dollar-denominated senior unsecured notes by Kasikornbank PCL (KBank: BBB+/stable/A-2; axA+/axA-1).

KBank is issuing the notes through its Cayman Islands branch and under the bank's $2.5 billion euro medium-term notes program.

The ratings on these notes reflect the long-term counterparty credit rating on KBank.

The notes will constitute direct, unconditional, unsecured, and unsubordinated obligations of KBank. The notes will rank equally with all other unsecured obligations of the bank, except for statutorily preferred obligations.

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