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Fitch Ratings Revises Outlook for Five Thai Banks to Stable

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Fitch Ratings has revised the outlook for five Thai banks to stable from negative and affirmed their long-term issuer default ratings, according to a Tuesday statement

The ratings agency affirmed Export-Import Bank of Thailand (EXIM), and Krung Thai Bank's (SET:KTB) rating at 'BBB+', TMBThanachart Bank's (SET:TTB) rating was affirmed at 'BBB', Standard Chartered Bank (Thai)'s at 'A-', and United Overseas Bank (Thai)'s was affirmed at 'A-'.

Fitch also affirmed Bangkok Bank's (SET:BBL) 'BBB' rating and maintained a stable outlook.

The long-term issuer default ratings of EXIM, KTB and TTB were lifted by their Government Support Ratings, which were also affirmed by Fitch, following the outlook revision on Thailand's sovereign rating to stable from negative.

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