Fitch rates Krung Thai Bank notes AA(tha)

Fitch Ratings said it assigned a national long-term rating of AA(tha) to Krung Thai Bank PCL's (AA+(tha)/stable) unsecured subordinated debentures of up to 10 billion baht. The debentures mature in 10 years, and the bank has an option to issue up to another 10 billion baht of debentures.

Proceeds will be used for liquidity management and to strengthen tier 2 capital.

The bank's issuer rating is based on expectation of state support due to the strong linkages through ownership, control and evidence of support, according to the agency.

© 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.