Fitch: Kasikornbank notes BBB+

Fitch Ratings said it assigned an expected BBB+ rating to Kasikornbank PCL's proposed dollar-denominated senior unsecured notes, which will be issued under its $2.5 billion euro medium-term notes program.

The proposed tenure for the notes will be up to 5.5 years and they will be issued through the bank’s Hong Kong branch, Fitch said.

The proceeds will be used for funding and general corporate purposes.

The senior notes are rated at the same level as the bank's long-term foreign-currency issuer default rating of BBB+ as they represent unsecured and unsubordinated obligations of the bank, the agency said. Any changes to the bank’s long-term issuer default rating would directly impact the rating on the notes, Fitch added.

The bank also has a short-term foreign-currency issuer default rating of F2, viability rating of BBB+, national long-term rating of AA+(tha), national short-term rating of F1+(tha) and national long-term subordinated debt rating of AA(tha).

© 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.