Fitch upgrades ratings of TMB and Thanachart banks

Corporate September 12, 2018 01:00

By The Nation

Fitch Ratings has upgraded the TMB and Thanachart (TBANK) banks’ national long-term ratings to “AA-” from “A+”, and the rating of TBANK’s holding company, Thanachart Capital (TCAP), to “A+”, from “A” and its national short-term rating to “F1+” from “F1”.

The outlook is stable. 

At the same time, Fitch upgraded TMB’s Basel III Tier 2 subordinated notes to “A+” from “A”, and the viability rating of United Overseas Bank (Thai) Public Company Limited to “BBB-” from “BB+”.