Fitch rates Krung Thai debenture program F1+(tha)

Fitch Ratings said it has assigned a national short-term rating of F1+(tha) to Krung Thai Bank Public Co. Ltd.'s unsubordinated and unsecured short-term debenture program of up to 20 billion baht.

Debentures issued under the program will have a maturity of no more than 270 days and can be issued in several tranches within a year, the agency said.

Proceeds from the issuance would be used for the bank's general corporate purposes.

The bank’s ratings are driven by its support rating floor and reflect Fitch's expectation of a high probability of extraordinary support from the Thai state, if needed.

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