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Fitch affirms National Finance
Fitch Ratings (Thailand) said it affirmed the national long- and short-term ratings assigned to National Finance Public Co. Ltd. at A-(tha) and F2(tha), respectively, with a stable outlook.
Fitch said the ratings reflect the company's relatively strong capital, improving earnings, a consumer finance niche and the broadening of the group's financial services business base.
The main risk to the company's performance is its high level of restructured loans, aggressive lending growth and rising interest rates, which could see asset quality and profitability weaken in the next two years. Also, National Finance's transformation into a holding company could impact its credit rating, depending on its future capital and leverage structure, Fitch said.
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