Fitch rates Siam Commercial debt AA-(tha)

Fitch Ratings said it assigned a national long-term rating of AA-(tha) to Siam Commercial Bank's subordinated unsecured debentures of up to 20 billion in Thai baht due 2018.

The ratings reflect the bank's sustained recovery in underlying earnings and profitability on the back of an improvement in asset quality and loan growth, Fitch said. The bank's reserve and capital positions remain strong, the agency added.

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