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Moody's changes Thailand banks
Moody's Investors Service said it published the rating results for banks in Thailand as part of the application of its refined joint default analysis and updated bank financial strength rating methodologies.
Banks with new ratings assigned or ratings that were changed include:
Bangkok Bank plc (Hong Kong)'s foreign-currency debt rating for subordinated obligations is changed to Baa1 from Baa2 with a stable outlook.
Kasikornbank plc's bank financial strength rating is unchanged at D+ and the foreign-currency deposit ratings are unchanged at Baa1/prime-2. The outlook is stable.
Kasikornbank plc (Cayman Island)'s foreign-currency debt rating for subordinated obligations is changed to Baa1 from Baa2. The outlook is stable.
Krung Thai Bank plc (Singapore Branch)'s foreign-currency deposit rating for long-term deposit note/CD program is unchanged at Baa1. The foreign-currency rating for preferred stock (hybrid securities) is changed to Baa3 from Ba1. The outlook is stable.
Siam City Bank plc (Cayman Island)'s foreign-currency debt rating for senior unsecured medium-term note program is changed to Baa2 from Baa3, foreign-currency debt rating for subordinate medium-term note obligations is changed to Baa3 from Ba1. The foreign-currency debt rating for other short-term obligations is unchanged at prime-3 and the outlook is stable.
Siam Commercial Bank Public Company (Singapore)'s foreign-currency debt rating for senior unsecured obligations is changed to A3 from Baa1 with positive outlook.
Bank of Ayudhya plc (Hong Kong)'s foreign-currency debt rating for senior unsecured obligations are affirmed at Baa3 with stable outlook.
Industrial Finance Corp. of Thailand's foreign-currency debt rating for senior unsecured obligations are affirmed at Baa2 with stable outlook.
TMB Bank plc (Cayman Island)'s foreign-currency rating for preferred stock (hybrid securities) are affirmed at Ba2 with stable outlook.
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