Fitch affirms Krung Thai Bank

Fitch Ratings said it affirmed Krung Thai Bank PCL's international ratings at long-term foreign currency BBB+, short-term foreign currency F2, individual D and support 2.

The bank's foreign currency subordinated debt rating also was affirmed at BBB.

Fitch said it also has affirmed the bank's national ratings at long-term AA+(tha), short-term F1+(tha) and national subordinated debt rating at AA(tha).

The outlook is stable.

Fitch said the ratings are underpinned by strong government ownership and support, as well as improving financial strength. Although government ownership and control provide support to the long-term debt ratings, these factors have tended to weaken the bank's stand-alone financial performance, Fitch said.

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