Fitch: TMB Bank notes BBB-

Fitch Ratings said it assigned a final rating of BBB- to TMB Bank PCL’s ¥600 million three-year senior unsecured notes due March 2018.

The notes are issued under the bank’s $3 billion euro medium-term note program and are issued by the bank’s Cayman Islands branch, Fitch said.

The bond issue is completed and the final documents conform to information previously received. The final rating is the same as the expected rating assigned March 2, the agency said.

The bank’s long-term issuer default rating of BBB-, short-term issuer default rating of F3 and $3 billion senior unsecured medium-term note program rating of BBB- are unaffected.

The bank also has a viability rating of BBB-, national long-term rating of A+(tha), national short-term rating of F1(tha) and national subordinated debt rating of A(tha).

The ratings reflect the bank’s stand-alone credit strength as Thailand’s seventh-largest commercial bank by assets as of December 2014, Fitch said.

The bank’s ratings are supported by continued improvements in its financial performance, the agency added.

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