Moody's rates Krung Thai hybrids Ba1

Moody's Investors Service said it assigned a Ba1 rating to Thailand-based Krung Thai Bank PCL's hybrid tier 1 securities being issued via its Singapore branch. The outlook is stable.

The rating reflects the structure of the issue, Krung Thai's moderate financial fundamentals and Thailand's supportive regulatory regime, the agency said. The securities are callable after 10 years. Interest is non-cumulative and, under certain circumstances, may be deferred, could result in payment terms appreciably different from senior securities.

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