Fitch Upgrades National Ratings of 9 Thai Financial Institutions

Stocks and Financial Services Press Releases Tuesday August 2, 2016 16:26
Bangkok--2 Aug--Fitch Ratings
Fitch Ratings has today upgraded the National Long-Term Ratings of nine financial institutions in Thailand as follows:
  • Bangkok Bank Public Company Limited (BBL), Kasikornbank Public Company Limited (KBank), Siam Commercial Bank Public Company Limited (SCB), Easy Buy Public Company Limited (EB) and Maybank Kim Eng Securities (Thailand) Public Company Limited (MBKET) have been upgraded to 'AA+(tha)' from 'AA(tha)'.
  • Kasikorn Securities Public Company Limited (KS), SCB Securities Company Limited (SCBS), CIMB Thai Bank Public Company Limited (CIMBT) and CIMB Securities (Thailand) Co., Ltd. (CIMBS) have been upgraded to 'AA(tha)' from 'AA-(tha)'.
The Outlooks for BBL, KBank, SCB, KS, SCBS, CIMBT, and CIMBS are maintained at Stable. The Outlooks for EB and MBKET are maintained at Negative.
Furthermore, Fitch has affirmed the National Long-Term Rating for Bank of Ayudhya Public Company Limited (BAY) at 'AAA(tha)', while revising its Outlook to Stable from Negative.

The rating actions follow the recent downgrade of the Thai sovereign's Long-Term Local-Currency Issuer Default Rating (see Fitch Reviews Thailand's Ratings, Applies Criteria Changes (https://www.fitchratings.com/site/pr/1009380) dated 22 July 2016). That has caused Fitch to re-assess the Thai national ratings scale and the relative position of these entities on the national ratings scale.

A full list of rating actions is at the end of this rating action commentary.

Latest Press Release

Fitch Affirms Standard Chartered Bank (Thai) at #A-#; Outlook Stable

Fitch Ratings has affirmed Standard Chartered Bank (Thai) Public Company Limited's (SCBT) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'A-' with a Stable Outlook. At the same time, the agency has affirmed SCBT's National...

Photo Release: KBank recognized as having the highest corporate brand value in the banking business category 2nd consecutive year

At Sukree Kaewcharoen Auditorium, the Stock Exchange of Thailand (SET), Ms. Kattiya Indaravijaya, KBank President, recently represented KBank to receive the "Thailand's Top Corporate Brand Values 2018" award in the banking business category from...

MicroBitcoin Open Source Community เซ็นสัญญากับสมาพันธ์แรงงานในเกาหลี เปิดโอกาสให้แรงงาน 1.5 ล้านคนได้ใช้เงินดิจิทัล

MicroBitcoin Open Source Community เซ็นสัญญากับสมาพันธ์แรงงาน Korea Association of Care Workers (KACW) เพื่อนำสกุลเงินดิจิทัล MicroBitcoin มาใช้ สัญญานี้ลงนามร่วมกันสามฝ่าย ได้แก่ MicroBitcoin Open Source Community, KACW และ Bluequotient...

MicroBitcoin Open Source Community Signs an Exclusive Contract with the Korea Association of Care Workers (KACW) to Expand its Usability to One and a Half Million Users

The MicroBitcoin Open Source Community has signed a contract with Korea Association of Care Workers (KACW) to adapt the MicroBitcoin blockchain network protocol. The trilateral contract was made between the MicroBitcoin Open Source Community, the Korea...

WICE establishes a joint-venture, EUROASIA TOTAL LOGISTICS, with its holding 40% of shares to provide cross-border transport services between China, Hong Kong

WICE establishes a joint-venture, "EUROASIA TOTAL LOGISTICS", with its holding 40% of shares to provide cross-border transport services between China, Hong Kong, and South East Asia with the expectation to achieve the first year's revenue at 200 million...

Related Topics