UPGRADES AND AFFIRMATIONS
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Fitch Ratings has upgraded TMB Bank Plc's (TMB) National Short-Term Rating to 'F1+(tha)' from 'F1(tha)', and affirmed the bank's Long-Term Issuer Default Rating (IDR).
The agency has also affirmed the Long-Term IDR of Bank of Ayudhya Public Company Limited (BAY), as well as the National Long-Term Ratings of Thanachart Bank Public Company Limited (TBANK) and Thanachart Capital Public Company Limited (TCAP). All Outlooks are on Stable.
Fitch Ratings (Thailand) also assigned Bank of Ayudhya Plc's (BAY; AAA(tha)/Stable) upcoming issue of Thai baht-denominated Basel III-compliant Tier 2 subordinated unsecured notes a National Long-Term Rating of 'AA+(tha)'. The debentures will have a tenor of 10 years, with an option to redeem after five years as well as on subsequent interest payment dates.
