Fitch: TMB under rating watch evolving

Fitch Ratings put TMB Bank's ratings under "the rating watch evolving" status following the bank's recapitalisation.

The rating company expected the recapitalisation would maintain TMB's rating, which was downgraded in January, and could create a positive effect on the bank's long-term credit rating. It also noted that TMB would resume positive performance in 2008. However, if losses persist in the year or if there is any delay to the recapitalisation, TMB Bank's hybrid tier-1 securities rating and other ratings could be downgraded.

Finance Minister Chalongphob Sussangkarn said on Friday that the recapitalisation should support the bank's business for 3-4 years.

- The Nation

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Fitch: TMB under rating watch evolving

Fitch Ratings put TMB Bank's ratings under "the rating watch evolving" status following the bank's recapitalisation.

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