TRIS Rating Cancels Company Rating of “SCIB” and Affirms Company & Issue Ratings of “PF”, Resulting from Merger between “SCIB” and “TBANK”

Bangkok--3 Oct--TRIS Rating TRIS Rating Co., Ltd. has cancelled the company rating of Siam City Bank PLC (SCIB).The cancellation is due to the merger between SCIB and Thanachart Bank PLC (TBANK) which was effective on 1 October 2011. Therefore, the previous company rating of “A+” with “positive” outlook assigned to SCIB will no longer be used as reference. At the same time, TRIS Rating has affirmed the “BBB” rating of the senior partially guaranteed debentures (PF132A) of Property Perfect PLC (PF). The rating affirmation follows the change in the guarantor of PF132A from SCIB to TBANK, resulting from the transfer of the entire business of SCIB to TBANK. TBANK’s company rating is “A+”, assigned by TRIS Rating, with a “positive” outlook. TBANK’s rating and outlook stand in the same categories as SCIB’s company rating and outlook, assigned by TRIS Rating. TRIS Rating has also affirmed the company rating of PF at “BBB-” and has affirmed the ratings of PF’s senior secured debentures (PF128A) at “BBB”, senior secured debentures (PF123A and PF13NA) at “BBB-”, and senior debentures (PF12NA) at “BB+”. The outlook remains “stable”.