Fitch Rates KASIKORNBANK's USD Senior Notes 'BBB+(EXP)'

The final rating is subject to the receipt of final documentation conforming to information already received.

KEY RATING DRIVERS

The senior notes are rated at the same level as KBank's Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'BBB+', as they represent its unsecured and unsubordinated obligations.

RATING SENSITIVITIES

The rating of the proposed senior unsecured notes would be directly affected by any changes in KBank's Long-Term Foreign-Currency IDR, which in turn is underpinned by its Viability Rating of 'bbb+'.

For further details on KBank's key rating drivers and rating sensitivities, refer to the rating action commentary Fitch Affirms Thailand's Four Largest Commercial Banks, dated 9 May 2017.