Fitch affirms Bank of Ayudhya

Fitch Ratings said it affirmed Bank of Ayudhya PCL's long-term foreign-currency issuer default rating at BBB, short-term foreign-currency issuer default rating at F3, long-term national rating at AA-(tha), short-term national rating at F1+(tha), long-term foreign-currency subordinated debt at BBB-, national long-term senior unsecured debt rating at AA-(tha) and national long-term subordinated debt at A+(tha).

The outlook is stable.

The outlook reflects an expectation that its performance and asset quality improvement are likely to be sustainable on the back of an improving economic outlook, Fitch said.

The bank's capital position is expected to remain strong, the agency said.

Despite the gradual improvement, the asset quality still remains weaker than that of major peers, Fitch added.

© 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.