ข่าวประชาสัมพันธ์เศรษฐกิจ/การเงิน

Fitch Affirms Bank of China (Thai)’s Long-Term National Rating at ‘AAA(tha)’; Outlook Stable

          Fitch Ratings (Thailand) has today affirmed the National Long-Term Rating of Bank of China (Thai) Public Company Limited at 'AAA(tha)' and affirmed the National Short-Term Rating at 'F1+(tha)'. The Outlook is Stable.

          KEY RATING DRIVERS
          BOCT's national ratings are based on institutional support from its parent Bank of China (Hong Kong) Limited (BOCHK; A/Stable). Fitch believes that there is an extremely high probability that BOCT would receive extraordinary support from its parent, if needed. Fitch considers BOCT as a strategically important subsidiary of BOCHK because it supports the parent's franchise in south-east Asia (Thailand is a key market in the region, although BOCT is small), the full ownership by BOCHK, their name sharing, close integration and evidence of operational and financial support.

          RATING SENSITIVITIES
          The National Ratings of BOCT are already at the top end of the scale and no rating upside is possible. Fitch, however, may downgrade the ratings of BOCT if BOCHK's Long-Term Foreign-Currency IDR falls below Thailand's Long-Term Local-Currency IDR of 'BBB+'/Positive, either by a downgrade of BOCHK or an upgrade of Thailand.
          Also, BOCT's ratings could be downgraded if Fitch sees a change in the parent's propensity to provide extraordinary support to BOCT. This may occur if BOCHK significantly reduces its ownership or financial commitment, indicating a materially lower propensity to provide support.
          Additional information is available on www.fitchratings.com