Fitch affirms CIMB Thai revises outlook to negative

Fitch Ratings said it affirmed the national long-term rating on CIMB Thai Bank PCL at AA-(tha). The outlook has been revised to negative from stable.

Fitch also revised the outlook on CIMB Thai Auto Co. Ltd.'s guaranteed bonds to negative from stable and affirmed the national long-term rating at AA-(tha). The change in outlook follows that of its parent CIMB Thai Bank.

The outlook change for CIMB Thai Bank is consistent with Fitch's view on the credit profile of the company’s parent bank, CIMB Bank Bhd., Fitch said.

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