Fitch Ratings

Fitch Ratings has affirmed Thailand-based telecommunications company Advanced Info Service Public Company Limited’s (AIS) and subsidiary Advanced Wireless Network Company Limited’s (AWN) National Long-Term Rating at ‘AA+(tha)’ with a Stable Outlook and their National Short-Term Ratings at ‘F1+(tha)’. At the same time, Fitch has affirmed AIS’s and AWN’s national senior unsecured rating at…

Fitch Ratings (Thailand) Limited has downgraded FNS Holdings Public Company Limited’s National Long-Term Rating to ‘B(tha)’, from ‘BBB-(tha)’, and its National Short-Term Rating to ‘B(tha)’, from ‘F3(tha)’. The ratings have been removed from Rating Watch Negative, on which they were placed on 28 December 2021. The Outlook is Stable. The downgrade reflects the sharp deterioration […]

Fitch Ratings (Thailand) has assigned an ‘A+(tha)’ rating to Thai Oil Public Company Limited’s (TOP; A+(tha)/Negative) proposed senior unsecured debentures of up to THB12 billion. The proposed debentures constitute direct, unsecured, unconditional and unsubordinated obligations of the company and are rated at the same level as TOP’s National Long-Term Rating, in line with its other […]

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…

Fitch Ratings (Thailand) has affirmed Bank of China (Thai) Public Company Limited’s (BOCT) National Long-Term Rating at ‘AAA(tha)’ and National Short-Term Rating at ‘F1+(tha)’. The Outlook is Stable. KEY RATING DRIVERSParent’s Support Underpins Rating: BOCT’s ratings are based on shareholder support from its parent, Bank of China (Hong Kong) Limited (BOCHK; A/Stable/a). Fitch believes there […]

Fitch Ratings has affirmed the National Long-Term Rating of Sumitomo Mitsui Trust Bank (Thai) Public Company Limited (SMTBT) at ‘AAA(tha)’. The Outlook is Stable. Fitch has also affirmed the bank’s National Short-Term Rating at ‘F1+(tha)’. KEY RATING DRIVERSShareholder Support Drives Ratings: SMTBT’s ratings reflect Fitch’s view of a high probability of extraordinary support from its […]

Fitch Ratings has affirmed CIMB Thai Bank Public Company Limited’s (CIMBT) National Long-Term Rating at ‘AA-(tha)’. The Outlook is Stable. Fitch has also affirmed the bank’s National Short-Term Rating at ‘F1+(tha)’ and medium-term note (MTN) programme at ‘AA-(tha)’ and ‘F1+(tha)’. KEY RATING DRIVERSParental Support Driven: CIMBT’s National Ratings are based on Fitch’s belief…

Fitch Ratings (Thailand) has affirmed the National Long-Term Rating of ICBC (Thai) Leasing Company Limited (ICBCTL) at ‘AAA(tha)’ and National Short-Term Rating at ‘F1+(tha)’. The Outlook is Stable. KEY RATING DRIVERSCore Subsidiary of Parent Bank: ICBCTL’s ratings are equalised with those of its parent, Industrial and Commercial Bank of China (Thai) Public Company Limited (ICBCT; […]

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 debentures are rated two notches below BAY’s National Long-Term Rating to reflect higher loss-severity risk relative to senior unsecured notes. The notes do not […]

Fitch Ratings (Thailand) has affirmed Industrial and Commercial Bank of China (Thai) Public Company Limited’s (ICBCT) National Long-Term Rating at ‘AAA(tha)’ and National Short-Term Rating at ‘F1+(tha)’. The Outlook is Stable. KEY RATING DRIVERSShareholder Support Drives Rating: ICBCT’s ratings reflect our view of a ‘Very High’ probability that the bank would receive extraordinary support from…