Fitch rates Ayudhya debt AA-(tha)

Fitch Ratings (Thailand) said it assigned Bank of Ayudhya PCL's upcoming senior unsecured debentures of up to 8 billion baht a national long-term rating of AA-(tha).

The debentures will be issued in two tranches with maturity of two and three years. The bank has an option to issue up to a further 4 billion baht of debentures.

The proceeds will be used for the bank's general corporate purposes.

Fitch said the bank's ratings are based on its standalone financial strength. The bank's performance and asset quality have further strengthened while its capitalization has remained adequate.

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