S&P: Bangkok Bank, United Overseas Bank view to stable

Standard & Poor's said it revised the outlooks on the counterparty credit ratings of Bangkok Bank PCL and United Overseas Bank (Thai) PCL to stable from negative.

The agency also said it affirmed the BBB+/A-2 counterparty credit ratings and the axA+/axA-1 Asean scale ratings on both banks, along with the issue ratings on Bangkok Bank.

The move follows the revision in outlook on the sovereign credit rating on the Kingdom of Thailand to stable from negative, S&P said.

The sovereign outlook revision reflects a view that Thailand's real economy and the government's fiscal position have suffered little damage despite the political uncertainties and unstable policy environment, the agency said.

The stable outlook on Bangkok Bank reflects the stable outlook on the sovereign ratings, after factoring in implicit support from the Thai government for the bank, S&P said.

The stable outlook on United Overseas Bank (Thai) reflects the fact that the rating is the same as the foreign-currency credit rating on Thailand, the agency said.

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