Fitch rates Maybank Kim Eng debentures AA(tha)

Fitch Ratings (Thailand) said it has assigned a national long-term rating of AA(tha) to Maybank Kim Eng Securities (Thailand) Public Co. Ltd.'s THB 1.4 billion of unsecured and unsubordinated debentures.

The debentures will have a maturity of two years with quarterly coupon payment, the agency said, noting that the company will use the proceeds from the issuance for general corporate purposes.

The debentures are rated at the same level as the company's national long-term rating of AA(tha) as the debentures will constitute direct unsubordinated and unsecured obligations of the company.

Maybank Kim Eng's rating (AA(tha)/negative) reflects Fitch's belief of a high probability of support from Malaysia's Malayan Banking Bhd.

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