Fitch assigns Mitsubishi Motors Thailand debentures AA+

Fitch Ratings said it assigned a final national long-term rating of AA+(tha) to the THB5 billion three-year guaranteed debentures to be issued by Mitsubishi Motors Thailand Co. Ltd.

The outlook is stable.

The rating is based entirely on a full, irrevocable and unconditional guarantee by Bank of Tokyo Mitsubishi of Japan (international long-term foreign currency A-).

The rating of the guarantor reflects Fitch's opinion that there is an extremely high probability of support for the bank, from the state, should the need arise.

The agency said Bank of Tokyo Mitsubishi's individual rating of C/D, meanwhile, reflects the bank's good asset quality, adequate capitalization and improving operating profitability.

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