Fitch Rates Bank of Ayudhya’s Basel III Tier 2 THB Notes at ‘AA(tha)’
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 subordinated notes are rated two notches below BAY’s National Long-Term Rating to reflect higher loss-severity risk relative to senior unsecured instruments, in line with the […]
