Fitch Ratings

Fitch Ratings has affirmed Krung Thai Bank Public Company Limited ‘s (KTB) Long-Term Issuer Default Rating (IDR) at ‘BBB+’ and National Long-Term Rating at ‘AAA(tha)’. The Outlooks are Stable. Fitch has also affirmed the bank’s Short-Term IDR at ‘F1’, Government Support Rating (GSR) at ‘bbb+’ and Viability Rating (VR) at ‘bbb-‘. A full list of […]

Fitch Ratings has affirmed The Siam Commercial Bank Public Company Limited’s (SCB) Long-Term Issuer Default Rating (IDR) at ‘BBB’ and National Long-Term Rating at ‘AA+(tha)’. The Outlooks are Stable. Fitch has also affirmed the bank’s Viability Rating (VR) at ‘bbb’ and its Government Support Rating (GSR) at ‘bbb’. A full list of rating actions is […]

Fitch Ratings (Thailand) has assigned a National Short-Term Rating of ‘F2(tha)’ to CGS-CIMB Securities (Thailand) Co., Ltd.’s (CGS-CIMB TH; A(tha)/Stable/F1(tha)) proposed Thai baht-denominated subordinated debentures. The firm plans to use the issuance proceeds for working capital to support its business operations. KEY RATING DRIVERSThe ‘F2(tha)’ National Short-Term Rating on the subordinated debentures is derived…

Fitch Ratings (Thailand) has placed Capital Nomura Securities Public Company Limited’s (CNS) National Long-Term Rating of ‘AA(tha)’ on Rating Watch Positive (RWP), and affirmed the National Short-Term Rating at ‘F1+(tha)’. At the same time, Fitch has withdrawn both the National Long- and Short-Term Ratings of CNS for commercial reasons. KEY RATING DRIVERSThe RWP is based […]

Fitch Ratings (Thailand) has downgraded PTT Global Chemical Public Company Limited’s (PTTGC) National Long-Term Rating and senior unsecured rating to ‘AA(tha)’ from ‘AA+(tha)’. The Outlook is Stable. Fitch has also affirmed the National Short-Term Rating at ‘F1+(tha)’. The downgrade reflects Fitch’s expectation that PTTGC’s financial leverage will be higher than commensurate with a…

Fitch Ratings (Thailand) has affirmed SCB Asset Management Co., Ltd’s (SCBAM) National Investment Management Quality Rating (IMQR) at ‘Excellent(tha)’. The Outlook is Stable. KEY RATING DRIVERSThe rating is based on the following category scores: Investment process: StrongInvestment resources: ExcellentRisk management: ExcellentCompany and client servicing: ExcellentInvestment performance: Consistent National IMQRs are assigned…

Fitch Ratings has affirmed Standard Chartered Bank (Thai) Public Company Limited’s (SCBT) Long-Term Issuer Default Ratings (IDRs) at ‘A-‘ and National Long-Term Rating at ‘AAA(tha)’. The Outlooks are Stable. Fitch has also affirmed the bank’s Shareholder Support Rating (SSR) at ‘a-‘. A full list of rating actions is below. Fitch is withdrawing the Viability Rating […]

The proposed acquisition of fixed broadband operator – Triple T Broadband PLC (TTTBB) – by Advanced Info Service Public Company Limited (AIS, AA+(tha)/Stable) is in line with the company’s pursuit of a sustainable competitive position and profitable growth in Thailand’s telecom sector amid a slowing mobile business, says Fitch Ratings. The acquisition will drive up […]

Fitch Ratings (Thailand) has maintained the Rating Watch Negative (RWN) on FNS Holdings Public Company Limited’s (FNS) National Long- and Short-term Ratings of ‘BBB-(tha)’ and ‘F3(tha)’, respectively. The maintenance of the RWN is based on uncertainty over FNS’s future business plans and financial profile. KEY RATING DRIVERSThe RWN reflects uncertainty over FNS’s business direction and […]

Fitch Ratings has affirmed Thailand’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB+’ with a Stable Outlook. A full list of rating actions is at the end of this rating action commentary. KEY RATING DRIVERSStrong Externals, Structural Constraints: Thailand’s ratings are underpinned by the country’s sustained external finance strengths and strong macroeconomic policy framework. The […]