Fitch lifts view to stable on Bangkok Mass Transit

Fitch Ratings said it revised the outlook for Bangkok Mass Transit System PCL's guaranteed debentures due Aug. 21, 2016 to stable from negative.

Fitch also said it affirmed the national long-term rating of the guaranteed debentures at AAA(tha).

The outlook revision follows a similar revision on the outlook of the guarantor, Bank of Ayudhya PCL, which was part of the reassessment of the Thai national ratings scale, the agency said.

The change in outlook reflects a view that there is a low risk of any widening gap between the company’s credit profile and that of the Thai sovereign in the near term, Fitch said.

The ratings on the debentures are fully based on an unconditional and irrevocable guarantee of principal and interest provided by the bank, the agency said.

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