Fitch revises outlook for five banks to negative

Fitch Ratings has revised the outlook on the Long-Term Issuer Default Ratings (IDRs) of five banks to negative while affirming their long-term foreign-currency IDRs.

The banks affected are:

• Export-Import Bank of Thailand
• Krungthai Bank
• TMBThanachart Bank
• Standard Chartered Bank (Thai)
• United Overseas Bank (Thai)
   

Meanwhile, Fitch affirmed the long-term foreign-currency IDRs with a stable outlook for the following institutions:

• Bangkok Bank
• Bank of Ayudhya
• Kasikornbank
• Siam Commercial Bank
• SCB X

The revisions followed Fitch’s downgrade of Thailand’s credit outlook from stable to negative (BBB+) on September 24.