Bangkok--8 Jan--Fitch Ratings
Fitch Ratings (Thailand) Limited has today assigned TISCO Bank Public Company Limited (TISCO) new issuance of subordinated and unsecured debentures of up to THB2bn, from THB1bn , a National Long-term rating of 'A-(tha)' (A minus (tha)).
This rating action commentary updates the same published by the agency on 9 December 2008.
Disclosure: TISCO Asset Management Company Limited (of which TISCO holds 99.9%) owns 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.
Note to Editors: Fitch’s National ratings provide a relative measure of creditworthiness for rated entities in countries with relatively low international sovereign ratings and where there is demand for such ratings. The best risk within a country is rated ‘AAA’ and other credits are rated only relative to this risk. National ratings are designed for use mainly by local investors in local markets and are signified by the addition of an identifier for the country concerned, such as ‘AAA(tha)’ for National ratings in Thailand. Specific letter grades are not therefore internationally comparable.
Contacts: Darunee Peanmanakit, Vincent Milton, Bangkok +662 655 4752/4759.
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