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