Fitch affirms Kiatnakin Bank

Fitch Ratings said it affirmed Kiatnakin Bank plc's national long-term rating at BBB+(tha) and national short-term rating at F2(tha).

The outlook is stable.

The ratings reflect the bank's strong capital and profit margins, although it has a riskier asset portfolio due to its exposure to distressed assets, residential project lending and used-car financing, Fitch said. The bank's liquidity also is weaker than larger banks, the agency said.

Despite the strong capital buffer, which provides some cushion against an expected sharp economic slowdown in 2009, a significant deterioration in liquidity or asset quality could trigger a ratings review, Fitch added.

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