S&P ups Kasikornbank

Standard & Poor's said it raised its long-term counterparty credit rating on Thailand's Kasikornbank Public Co. Ltd. to BBB- from BB+ and the short-term counterparty credit rating to A-3 from B.

The outlook is stable.

At the same time, S&P said it assigned its C bank fundamental strength rating to Kasikornbank, reflecting the ongoing improvement in its financial profile, in particular its strengthened profitability and better capitalization.

The rating upgrade recognizes the bank improvements in addressing problem loans, strengthening operating profitability and enhancing capitalization, S&P said.

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