Fitch rates ICBC (Thai) notes AAA(tha)

Fitch Ratings said it has assigned ICBC (Thai) Leasing Co. Ltd.'s upcoming long-term senior unsecured notes with an issuance size of up to 6 billion baht a national long-term rating of AAA(tha).

The notes will be issued under the company’s 30 billion baht medium-term note program.

The proceeds will be used for refinancing and/or general operations.

“ICBCTL's senior notes are rated at the same level as its national long-term rating as they represent the company's unsecured and unsubordinated obligations,” the agency said in a news release.

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