Fitch Affirms THB Senior Notes of Mizuho Bank and SMBC Bangkok Branch at #AAA(tha)#

Stocks and Financial Services Press Releases Monday June 18, 2018 16:22
Bangkok--18 Jun--Fitch Ratings

Fitch Ratings (Thailand) has affirmed the National Long-Term Ratings on the Thai baht-denominated senior unsecured notes of Mizuho Bank, Ltd. (MHBK, A-/Stable/F1) and Sumitomo Mitsui Banking Corporation, Bangkok Branch (SMBC Bangkok Branch) at 'AAA(tha)'.


The ratings on the senior unsecured notes are based on the Long-Term Foreign-Currency Issuer Default Ratings (IDRs) of MHBK and Sumitomo Mitsui Banking Corporation (SMBC, A/Stable/F1). The IDRs are above Thailand's Long-Term Local-Currency IDR of 'BBB+' and thereby correspond to 'AAA(tha)', the highest level on Thailand's National-Rating scale.

For additional information on MHBK and SMBC, see our latest rating action commentary, Fitch Affirms Ratings on Japanese Major Banks, dated 18 December 2017.
There is no rating upside as the senior unsecured notes of MHBK and SMBC Bangkok Branch are already at the highest level on the Thailand National Rating scale.

A downgrade could be triggered if the Long-Term Foreign-Currency IDRs of either MHBK or SMBC was at or below Thailand's Long-Term Local-Currency IDR, whether by a downgrade of the banks' ratings or an upgrade of Thailand's rating.

The rating actions are as follows:
THB3.0 billion 2.33% senior unsecured notes due September 2018 National Long-Term Rating affirmed at 'AAA(tha)'
SMBC Bangkok Branch:
THB3.5 billion 2.09% senior unsecured notes due November 2019 National Long-Term Rating affirmed at 'AAA(tha)'
THB4.0 billion 2.00% senior unsecured notes due August 2020 National Long-Term Rating affirmed at 'AAA(tha)'

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