Fitch rates Bank of Ayudhya notes AA-(tha)

Fitch Ratings said it assigned Bank of Ayudhya PCL's (AA-(tha)/stable) senior debentures of up to 20 billion baht with a maturity of up to three years a AA-(tha) national long-term rating.

Proceeds will be used for general corporate purposes.

The bank's ratings are based on its standalone financial position, robust performance, strong capital position and continued improvement of asset quality, according to the agency.

The ratings also consider the bank's greater use of wholesale funding, relative to similarly rated peers, to better match its asset profile, the agency said.

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