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Fitch Ratings Upgrades Three Large Thailand Banks.

Bangkok Post (Bangkok, Thailand)

| June 01, 2004 | COPYRIGHT 2004 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Jun. 1--Fitch Ratings yesterday upgraded its ratings for three of Thailand's largest banks, citing their financial strength due to the economic recovery.

Long-term foreign currency ratings for Kasikornbank and Siam Commercial Bank were bumped up a notch to BBB from BBB- with a stable outlook. Subordinated foreign currency ratings for the two banks were also increased to BBB- from BB+, with individual ratings raised to C/D from D.

The individual rating for state-owned Krung Thai Bank was also increased to D from D/E, with the other ratings affirmed.

Fitch also revised its outlook for Bangkok Bank's long-term foreign currency rating from BBB- to ...

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Source: HighBeam Research, Fitch Ratings Upgrades Three Large Thailand Banks.

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