Fitch Confirms TMB Banks EMTN Programme at #BBB-

Stocks and Financial Services Press Releases Friday March 18, 2016 15:01
Bangkok--18 Mar--Fitch Ratings
Fitch Ratings has confirmed TMB Bank Public Company Limited's (TMB; BBB-/Stable) USD3.0bn euro medium-term note (EMTN) programme rating at 'BBB-', following an update to the terms of the programme.
KEY RATING DRIVERS

The programme is rated at the same level as TMB's Long-Term Issuer Default Rating (IDR) of 'BBB-'. Fitch notes that there is no assurance that notes issued in the future under the programme will be rated the same as the programme rating, as the programme also permits the issuance of subordinated notes.

TMB's Long-Term IDR is based on its standalone financial strength, which is reflected in its Viability Rating (VR). TMB's VR reflects its improved financial performance (particularly in asset quality and profitability), and sound capital and liquidity positions. TMB is the seventh largest commercial bank in Thailand, with a market share of around 5% in loans and deposits.

RATING SENSITIVITIES
Any change to TMB's Long-Term IDR would have a similar effect on the EMTN programme's rating.

TMB's IDR could face downward pressure if the bank's key credit profile measurements in asset quality and leverage deteriorate sharply. There could be an upgrade in the IDR if the bank can show that recent improvements in reserve coverage, liquidity and capital can be sustained.

The other ratings of TMB are unaffected by this action, and are as follows:
Long-Term IDR: 'BBB-'; Outlook Stable
Short-Term IDR: 'F3'
Viability Rating: 'bbb-'
Support Rating: '3'
Support Rating Floor: 'BB+'
National Long-Term Rating: 'A+(tha)'; Outlook Stable
National Short-Term Rating: 'F1(tha)'
Long-term foreign-currency senior unsecured debt: 'BBB-'
Basel III Tier 2 subordinated debt rating: 'A(tha)'
Legacy Basel II subordinated debt rating: 'A(tha)'

Latest Press Release

SET welcomes power plant infrastructure fund SUPEREIF on August 21

The Stock Exchange of Thailand (SET) will list Super Energy Power Plant Infrastructure Fund, the first SET-listed solar power plant infrastructure fund, on August 21, under the ticker symbol "SUPEREIF", with a market capitalization at its initial public...

Photo Release: EXIM Thailand Joins Hands with Public and Private Sectors to Support Thai Entrepreneurs Entry to African Market

Mr. Pisit Serewiwattana (second right), President of Export-Import Bank of Thailand (EXIM Thailand), and Mrs. Jintana Sirisantana (third left), Secretary-General of Thai National Shippers' Council (TNSC), recently presided over "Opening Doors to Africa,...

KTC joins hands with OneEmpower in launching online KTC Apple Rewards Store to please Apple lovers. Shop and redeem points 24/7.

"KTC" jointly with "OneEmpower" launch online "KTC Apple Rewards Store," a full-service 24 hours online shopping experience for Apple products, along with options for cardmembers to conveniently and easily redeem desired products with KTC FOREVER points...

Caribbean Citizenship by Investment Tops New 2019 CBI Index Yet Again, FT Publication Shows

The Financial Times' Professional Wealth Management (PWM) magazine has published the newest edition of the CBI Index. The special report is at its third anniversary and ranks all the active citizenship by investment (CBI) programmes around the world...

#Bithumb Singapore# Cryptocurrency Exchange Brand is finally launched

Singapore based fintech company, RDMCHAIN PTE. LTD. announces that a brand name of its cryptocurrency exchange has finally changed from 'BITHOLIC' to 'Bithumb Singapore'. According to a company's official, as an affiliate of Bithumb (South Korea's...

Related Topics