Fitch Rates Bangkok Bank#s Proposed USD Senior Notes #BBB+(EXP)#

Stocks and Financial Services Press Releases Thursday September 13, 2018 09:25
Bangkok--13 Sep--Fitch Ratings

Fitch Ratings has assigned Bangkok Bank Public Company Limited's (BBL; BBB+/Stable/bbb+) proposed US dollar denominated senior unsecured notes an expected 'BBB+(EXP)' rating. The notes will be issued under BBL's USD3.0 billion global medium-term note (GMTN) programme.

The final rating is subject to the receipt of final documentation conforming to information already received.
KEY RATING DRIVERS
The proposed senior notes are rated at the same level as BBL's Long-Term Foreign-Currency Issuer Default Rating (IDR) as they will represent its unsecured and unsubordinated obligations.

BBL's IDR is driven by its standalone credit profile and reflects its Viability Rating of 'bbb+', which is underpinned by its strong domestic franchise, particularly among large corporates and in international banking, and solid capitalisation as well as its lower risk appetite and more prudent funding and liquidity profile relative to domestic peers. Its funding and liquidity profile is characterised by a consistently low loan/deposit ratio and high level of liquid assets.

RATING SENSITIVITIES
Any change to BBL's Long-Term IDR, which is driven by its Viability Rating, would have a similar effect on the senior unsecured notes' ratings.
For full details on BBL's key rating drivers and sensitivities, see the previous rating action commentary.

Latest Press Release

In Ukraine, Labor, Taxation, and Social Policies Must Be Upgraded to Address Rising Inequality, Says World Bank

WASHINGTON, September 25, 2018 – Social inequality across the regions of Ukraine is low, but the social gap in urban and rural areas remains wide, according to a new World Bank report. Toward a New Social Contract calls for a fundamental rethinking...

Focus on China-CEE Cooperation During Prague Leg of CEIBS Europe Forum

The historic Prague Castle was the venue for a frank and fruitful discussion on how China and the countries of Central and Eastern Europe can work together to drive mutual economic growth. Attended by about 200 participants, the event saw keynote...

African Leaders, the World Bank Group, and partners catalyze action to ensure that everyone in Africa has a digital identity by 2030

NEW YORK, September 25th, 2018 - African leaders, the World Bank Group, the United Nations, and other development partners met today on the sidelines of the UN General Assembly for the African Leaders Roundtable on Identification for Development to...

Photo Release: KBank joins hands with partners to create K PARK, a new form of lifestyle space for suburban communities

KBank unveils the first K PARK on Hathairat 33 Road by teaming up with three business giants, namely, PTT (PTT gas station and Cafe Amazon), SCG Express and Amarin Printing and Publishing to open a new lifestyle space which offers delightful experiences...

CIMB Group Chairman to Step Down by 31 December 2018

CIMB Group ("CIMB" or "the Group") today announced that its Chairman, Dato' Sri Nazir Razak, will step down from his position as Group Chairman, and all other positions within the CIMB group of companies by 31 December 2018. The CIMB Board of Directors...

Related Topics