Fitch Rates United Overseas Bank (Thai)’s Basel III Tier 2 THB Notes at ‘AA(tha)’
Fitch Ratings (Thailand) has assigned United Overseas Bank (Thai) Public Company Limited’s (UOBT, AAA(tha)/Stable) upcoming Thai baht-denominated Basel III-compliant Tier 2 subordinated unsecured debentures a rating of ‘AA(tha)’. KEY RATING DRIVERSThe subordinated debentures are rated two notches below UOBT’s National Long-Term Rating to reflect higher loss-severity risk relative to senior unsecured notes. The notes do…
