S&P Global Ratings on Monday assigned a “BBB+” long-term issue rating to a proposed issue of US-dollar-denominated senior unsecured notes by Siam Commercial Bank Plc (SCB: BBB+/Stable/A-2). SCB is issuing the notes as part of its US$3.5-billion global medium-term notes programme.
The rating on these notes reflects the long-term issuer credit rating for SCB.
The notes will constitute direct, unconditional, unsecured and unsubordinated obligations of SCB. They will rank equally with all other unsecured obligations of the bank, except for statutorily preferred obligations.