Fitch Rates KTB#s USD Senior Unsecured Debt #AA+(tha)#

Stocks and Financial Services Press Releases Thursday May 24, 2018 11:32
Bangkok--24 May--Fitch Ratings

Fitch Ratings (Thailand) has today assigned a National Long-Term Rating of 'AA+(tha)' to Krung Thai Bank Public Company Limited's (KTB; AA+(tha)/Stable) upcoming US dollar-denominated senior unsecured debentures. The debentures will have a maximum tenor of five years at issue. The bank plans to use the proceeds from the issuance to manage its US dollar liquidity and fulfil its general working-capital requirements.

KEY RATING DRIVERS
Fitch rates the notes at the same level as KTB's National Long-Term Rating of 'AA+(tha)', as the notes represent the bank's unsecured and unsubordinated obligations.
RATING SENSITIVITIES
Changes in KTB's National Long-Term Rating would have a similar effect on the rating of the senior unsecured notes.

KTB's National Long-Term Rating, in turn, is sensitive to changes in the bank's Support Rating Floor, which reflects Fitch's view on the sovereign's capacity and propensity to provide timely extraordinary support to KTB in times of need.


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