Fitch affirms Krung Thai Bank

Fitch Ratings said it affirmed Krung Thai Bank plc's long-term foreign-currency issuer default rating at BBB, short-term foreign-currency issuer default rating at F3, foreign-currency subordinated debt rating at BBB-, foreign-currency offshore hybrid tier 1 securities at BB, national long-term rating at AA+(tha), national short-term rating at F1+(tha), national subordinated debt rating at AA(tha) and national rating on domestic hybrid tier 1 securities at A(tha).

The outlook is stable.

The ratings are underpinned by strong government ownership and support, Fitch said, as well as its improving financial strength, even though downside risks to the bank's performance persist.

Given the bank's size and importance to the financial system and economy, as well as its majority state-ownership and control, the agency said it believes there is a high probability the bank would receive state support if needed.

© 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.