Bangkok--25 Jul--Moody's Investors Service
Moody's Investors Service affirms Siam Commercial Bank's Baa1 senior notes rating due 2009 and removes it from provisional status. This rating action follows the successful completion of the issuance of the notes and receipt of the final documentation. The note is issued via its Singapore branch. The outlook for the rating is stable.
Headquartered in Bangkok, SCB is Thailand's third largest bank by assets. It had total assets of Bt877 billion as of June 30, 2006.
The other ratings of the bank are:
Siam Commercial Bank Public Company Limited -- Bank financial strength
rating of D+, on review for possible upgrade, as well as foreign currency deposit ratings of Baa1 and Prime-2, with a stable outlook.
Moody's Investors Service is a publisher of rating opinions and research.
It is not involved in the offering or sale of any securities, nor is it acting on behalf of the offering party. This release is not a solicitation or a recommendation to buy, hold or sell securities.
Hong Kong
Leo Wah, CFA
Asst Vice President - Analyst
Financial Institutions Group
Moody's Asia Pacific Ltd.
JOURNALISTS: (852) 2916-1150
SUBSCRIBERS: (852) 2916-1121
Singapore
Beatrice Woo
VP - Senior Credit Officer
Financial Institutions Group
Moody's Singapore Pte Ltd.
JOURNALISTS: (852) 2916-1150
SUBSCRIBERS: (65) 6398-8308