Fitch gives Kasikornbank notes BBB+

Fitch Ratings said it assigned an expected BBB+(EXP) rating to Kasikornbank PCL’s (BBB+/stable/bbb+) proposed dollar-denominated senior unsecured notes with a tenure of up to 5½ years.

The notes are to be issued by Kasikornbank’s Hong Kong branch under its $2.5 billion euro medium-term note program, which was affirmed at BBB+ on May 9, 2017.

Fitch said the senior notes are rated at the same level as Kasikornbank’s long-term foreign-currency issuer default rating of BBB+ as they represent its unsecured and unsubordinated obligations.

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