Fitch rates ICBC notes AAA(tha)

Fitch Ratings said it assigned ICBC (Thai) Leasing Co.Ltd.’s proposed long-term senior unsecured notes an AAA(tha) national rating.

ICBC’s senior notes are rated at the same level as its AAA(tha) national long-term rating as they represent its unsecured and unsubordinated obligations, Fitch said.

The notes will be issued under the company’s medium-term note program, and the proceeds will be used for refinancing and/or working capital.

The outlook is stable.

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