Fitch Affirms SMBC Bangkok Branch#s THB Notes at #AAA(tha)#

Stocks and Financial Services Press Releases Thursday December 13, 2018 16:29
Bangkok--13 Dec--Fitch Ratings
Fitch Ratings (Thailand) has affirmed the National Long-Term Ratings on Sumitomo Mitsui Banking Corporation, Bangkok Branch's (SMBC Bangkok Branch) Thai baht-denominated senior unsecured notes at 'AAA(tha)'.
KEY RATING DRIVERS

The note ratings are based on the Long-Term Foreign-Currency Issuer Default Rating (IDR) of SMBC Bangkok Branch's parent, Sumitomo Mitsui Banking Corporation (SMBC, A/Stable/F1), which is above Thailand's Long-Term Local-Currency IDR of 'BBB+' and corresponds to a 'AAA(tha)' National Rating, the highest level on Thailand's National Rating scale.

See Fitch Affirms Ratings on Japanese Major Banks, dated 7 December 2018, for information on SMBC.
RATING SENSITIVITIES
A downgrade could be triggered if SMBC's Long-Term Foreign-Currency IDR was at or below Thailand's Long-Term Local-Currency IDR, whether by a downgrade of the bank's rating or an upgrade of Thailand's rating.
An upgrade on SMBC Bangkok Branch's senior unsecured notes is not possible, as the rating is already at the highest level on the National Rating scale.
The rating actions are as follows:
National Long-Term Rating on THB3.5 billion 2.09% senior unsecured notes due November 2019 affirmed at 'AAA(tha)'
National Long-Term Rating on THB4.0 billion 2.00% senior unsecured notes due August 2020 affirmed at 'AAA(tha)'
National Long-Term Rating on THB2.0 billion 2.66% senior unsecured notes due November 2021 affirmed at 'AAA(tha)'

Latest Press Release

PRM in growth mode, expects strong growth in 2019, led by domestic transport vessel, FSU segments

PRM expressed confidence that it is in growth mode in 2019 and will record strong growth which will be driven by strong performance in all segments. It highlighted the exceptional performance in the domestic transport vessel segment following the...

KTC penetrates the personal loans business with the launch of loans with objectives. Creates an alliance network, screens and maintains quality ports of receivables for sustainable growth.

KTC reveals an intense competition in the personal loans business. The firm plans to advance its operations to build sustained growth in the second half of the year from real customer demands. Aims to release personal loans with joint objectives with...

Photo Release: KBank sends trainers to offer financial literacy to university students

At KBank Rat Burana Building, Mr. Predee Daochai, KBank President, recently presented certificates to 30 KBank employees, who acted as trainers in the "Financial Literacy for New Generation" program No. 1, organized by the Thai Bankers' Association and...

SET and alliances join forces to organize SET Social Impact Day 2019

The Stock Exchange of Thailand (SET) together with alliances in capital market, social, and entertainment sectors, have organized the annual SET Social Impact Day, under the theme "Partnership for Impact Co-creation" on July 17-18, as a flagship venue to...

Results of semi-annual SET Index series review for second half of 2019

The Stock Exchange of Thailand (SET) announces the results of the semi-annual index review for SET50, SET100, sSET, SETCLMV, SETHD SETTHSI and SETWB indices for the period of second half of 2019 (July 1 - December 31) as follows: - SET50: Two securities...

Related Topics