On 5 March 1997, following the emergence of several adverse developments within Thailand's financial sector, TRIS placed the financial institutions it has rated on CreditAlert with "negative" implications. TRIS's current review of the financial system's fundamentals indicates increasing sensitivity from the less favorable market prospects and lowered protection caused by the country's financial liberalization. Apart from the reduced balance-sheet performance of Thai financial institutions, TRIS has also readjusted its ratings scale to more stringent performance standards to reflect higher industry risk than previously considered. The following are the ratings of the financial institutions TRIS reviewed: Bangkok Bank: Sr debt Downgraded to AA+ from AAA Cathay Finance and Sr debt Downgraded to BB+ from BBB Securities: CATHAY#1: 1,000 mb sub debs Ekachart Finance and EFS#2: 1,000 mb Downgraded to BB form BBB- Securities: sub debs due 1999 Industrial Finance Sr debt Downgraded to AA+ Corporation of Thailand: from AAA Kiatnakin Finance KK#1: 1,200 mb sr Downgraded to BBB- from A- and Securities: debs due 1998 KK#2: 2,000 mb sr Downgraded to BBB- from A- debs due 2001 Phatra Thanakit: Sr debt Downgraded to A from AA Siam City Bank: Sr debt Downgraded to A from AA SCIB#1: 3,000 mb Downgraded to A- from AA- SCIB#2,3: 1,750 mb Downgraded to A- from AA- sub debs due 2002 Thai Famers Bank: Sr debt Downgraded to AA+ From AAA TFB#1: 7,500 mb Downgraded to AA from AA+ sub debs due 2001 Thai Thamrong Finance: T-RONG#2: 1,500 mb Downgraded to BB+ from BBB sr debs due 2000 T-RONG#1: 700 mb Downgraded to BB from BBB- sub debs due 2001 Asia Securities Trading: Sr debt Rating cancelled* Dhana Siam Finance and Sr debt Rating cancelled* Securities: DS#1: 2,400 mb sub Rating cancelled* debs due 2000 Finance One: Sr debt Rating cancelled* FIN 1#1 2,400 mb sub Rating cancelled* debs due 2001 General Finance and GF#2: 2,000 mb sr Rating cancelled* Securities: debs due 2001 GF#1: 1,000 mb sub Rating cancelled* debs due 1999 Securities One: S-ONE#1: 1,500 mb sr Rating cancelled* debs due 1999 Note: *Ratings cancelled at the request of the companies End.