Moody's affirms EXIM Thailand

Moody's said it affirmed Export-Import Bank of Thailand's long-term issuer rating of Baa1, as well as the (P)Baa1 rating on the bank's $1.5 billion senior unsecured medium-term note program.

At the same time, Moody's affirmed the bank's ba2 baseline credit assessment (BCA) and assigned an adjusted BCA of ba2. Moody's has also affirmed EXIM Thailand's counterparty risk assessment of Baa1(cr)/P-2(cr) and its local and foreign currency counterparty risk rating of Baa1/P-2.

The outlook on EXIM Thailand is stable.

The affirmation of EXIM Thailand's Baa1 issuer rating takes into account the bank's adjusted BCA of ba2 and four notches of support from the Government of Thailand (Baa1 stable) owing to the government's full ownership of the bank, given its important policy role in providing financial services to Thai exporters and Thailand's track record of supporting financial institutions, Moody’s said in a news release.

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