Fitch revises outlook for five banks to negative
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Fitch revises outlook of five banks to negative after cutting Thailand’s credit rating outlook to BBB+/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.
