Moody's rates Bangkok Bank notes A3

Moody's Investors Service said it assigned an A3 foreign-currency senior debt rating to the dollar-denominated senior notes that Bangkok Bank PCL plans to issue under its $3 billion global medium-term note program. The agency also affirmed the bank's A3 foreign-currency senior debt rating and Baa3 foreign-currency subordinated debt rating. The outlook is stable.

The agency said the key factors underpinning the bank's ratings are its sizeable franchise and market share, its stable profitability supported by steady and diversified income streams, leveraged off its corporate relationships, and its robust loss-absorbing buffers and good asset quality.

The ratings also consider the downside risks posed by the bank's relatively higher borrower concentration compared to some regional peers and the size of its market-funded foreign currency book, Moody's said.

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