Fitch Ratings (Thailand) has assigned Bank of Ayudhya Public Company Limited’s (BAY; AAA(tha)/Stable) upcoming Thai baht-denominated Basel III-compliant Tier 2 subordinated unsecured debentures a rating of ‘AA(tha)’. KEY RATING DRIVERSThe Basel III Tier 2 notes are rated two notches below the issuer’s National Long-Term Rating, to reflect their higher loss-severity risk relative to senior unsecured […]