Bangkok--24 Jul--Fitch Ratings Fitch Ratings has today affirmed and simultaneously withdrawn the National Bond Fund Ratings of ‘AA-(tha) (AA minus(tha))/V5(tha)’ assigned to AYF Medium Term Fixed Income Dividend Fund (AYFMTDIV), managed by Ayudhya Fund Management Company Limited (AYF). Although Fitch will no longer provide ratings coverage on AYFMTDIV, Fitch still continues to provide ratings and analytical coverage on AYF Cash Management Fund ( ‘AAA(tha)/V1(tha)’). AYF is a Thailand-based asset management company, 100%-owned by Bank of Ayudhya. At end-June 2008, AYF had THB51.1 billion in assets under management, 73% in mutual funds investment and the remaining in provident and private funds. Contacts: Napachak Phasukavanich, Lertchai Kochareonrattanakul, Vincent Milton, Bangkok, +662 655 4755. Note to Editors: Fitch’s National fund credit ratings are assigned on a scale of ‘AAA(tha)’ to ‘D(tha)’, on a rating scale similar to that of Fitch’s Long-term National credit ratings. Meanwhile, the volatility ratings are assigned on a scale of ‘V1+(tha)’ (least volatile) through ‘V10(tha)’ (most volatile). The ratings assigned to the fund are National ratings, and as such, they provide a relative measure of creditworthiness and total return stability only in comparison with other funds in Thailand. They are therefore not internationally comparable. Disclosure: TISCO Asset Management Company Limited and Kasikorn Asset Management Company Limited each hold 10% of the shares in Fitch Ratings (Thailand) Limited. No shareholder, other than Fitch Ratings Limited of the UK, is involved in the day-to-day operation of, or credit rating reviews undertaken by, Fitch Ratings (Thailand) Limited. Fitch’s rating definitions and the terms of use of such ratings are available on the agency’s public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch’s code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the ‘Code of Conduct’ section of this site.