Fitch stabilizes Citicorp Leasing view

Fitch Ratings said it revised the outlook on Citicorp Leasing (Thailand) Ltd.'s national long-term rating to stable from negative and affirmed the rating at AAA(tha). Fitch also affirmed the senior debt rating at AAA(tha).

“The outlook revision follows Singapore-based United Overseas Bank Ltd.'s (UOB; AA-/negative) announcement that it will acquire U.S.-based Citibank, NA's (A+/stable/a) consumer business in Indonesia, Malaysia, Thailand and Vietnam. We expect the deal to shrink downside risks to CLT's rating due to the new potential parent's ability and propensity to provide support to CLT,” the agency said in a press release.

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