Fitch ups Thailand banks view to stable

Fitch Ratings said it revised the outlook on Kiatnakin Bank plc to stable from negative, while affirming its national long-term rating at BBB+(tha), national short-term rating at F2(tha).

Tisco Bank plc's national long-term rating also was affirmed at A(tha) and national short-term rating at F1(tha). The outlook was changed to stable from negative.

Siam Commercial Leasing plc's national long-term rating also was affirmed at A(tha) and national short-term rating at F1(tha). The outlook is stable.

Despite the weak operating environment in 2007 and still challenging economic outlook in 2008, these major auto finance lenders' performances have remained relatively stable, Fitch said.

Profitability and asset quality measures have been maintained, the agency said, and capital buffers remain strong. First quarter results for these lenders indicate relatively strong performance although further economic shocks such as the spike in oil and food prices could see renewed asset quality pressures, Fitch said.

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