Fitch lowers Bangkok Bank

Fitch Ratings said it downgraded Bangkok Bank PCL’s long-term issuer default rating to BBB from BBB+ and affirmed the national long-term rating at AA+(tha). The outlook is stable.

Fitch also downgraded Bangkok Bank's senior unsecured debt rating to BBB from BBB+, downgraded the subordinated notes to BB+ from BBB and removed the ratings from under criteria observation.

The downgrade reflects the challenging operating environment and large-scale economic disruptions from the coronavirus pandemic for the bank, Fitch said.

“These follow Thailand's weak operating environment in the past several years on slower domestic and global economic growth,” said Fitch in a press release.

© 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.