Fitch rates Export-Import Bank of Thailand notes AA+

Fitch Ratings said it assigned a national long-term rating of AA+(tha) to Export-Import Bank of Thailand's senior unsecured debentures of up to Thai baht 7 billion to be issued this month.

The agency noted the debentures will have a maturity of up to five years.

At the same time, Fitch said it also affirmed the bank's national long-term rating at AA+(tha) with a stable outlook and national short-term rating at F1+(tha).

Export-Import Bank of Thailand's international ratings were also affirmed at long-term foreign currency BBB+ with a stable outlook, short-term foreign currency F2 and support 2.

The bank's long-term foreign currency rating will move in tandem with the Thai sovereign rating, as Fitch said it believes there is a high probability that state support would be forthcoming, if necessary, owing to the bank's full ownership and control by the Ministry of Finance.

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