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Fitch affirms Krungthep Land
Fitch Ratings (Thailand) Ltd. said it affirmed Krungthep Land PCL's 500 million Thai baht of debentures due 2013, 250 million baht of debentures due 2014 and
250 million baht of debentures due 2015 at AA+(tha). The outlook is stable.
The agency said the ratings are based solely on the irrevocable and unconditional guarantee of the principal and interest payment of the debentures by Krung Thai Bank PCL (AA+(tha)/stable).
The rating of Krung Thai Bank is based primarily on state ownership and government support, Fitch said. The agency believes there is a high probability that Krung Thai Bank would receive state support if needed due to its size and importance to the country's financial system and economy.
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