Fitch: Industrial Bank of Korea notes AAA(tha)

Fitch Ratings said it assigned a national long-term AAA(tha) rating to Industrial Bank of Korea's senior unsecured debentures of up to 10 billion in Thai baht with a minimum maturity of three years.

The proceeds will be used for general banking purposes.

The rating reflects the bank's long-term foreign-currency issuer default rating of A+, which is rated higher than Thailand's long-term local-currency issuer default rating of A-.

There is an expectation of support for the bank from the South Korea government, Fitch said.

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