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2 clusters · 4 sources · 1 days · First seen · Last updated

Fitch Ratings updates South and Southeast Asian credit

Overview

Fitch Ratings has issued several credit rating updates and affirmations for financial institutions in Thailand and Sri Lanka.

In Thailand, Fitch upgraded the long-term foreign currency issuer default rating outlook from ‘negative’ to ‘stable’ for five major banks: Export-Import Bank of Thailand (EXIM), Krungthai Bank (KTB), TMBThanachart Bank (TTB), Standard Chartered (Thai) (SCBT), and UOB Thailand (UOBT). This follows an upgrade to Thailand’s sovereign credit outlook. Additionally, Fitch affirmed the National Long-Term Rating for the Islamic Bank of Thailand (ibank) at ‘AA(tha)’ with a stable outlook, noting its role as a state policy bank.

In Sri Lanka, Fitch affirmed CEAT Kelani Holdings’ National Long-Term Rating of ‘AA+(lka)’ with a stable outlook, citing the company’s leadership in the tyre manufacturing industry and resilient financial profile despite rising input costs.

Entities

Fitch Ratings · Euromoney · Kasikornbank · CEAT Kelani Holdings · Export-Import Bank of Thailand

Timeline

  1. 3 days ago

    [BUSINESS] 3 sources
    Fitch Ratings affirms credit ratings for CEAT Kelani and ibank

    Fitch Ratings has affirmed the credit ratings for Sri Lanka’s CEAT Kelani Holdings and Thailand’s Islamic Bank of Thailand, noting financial resilience and stable outlooks for both.

  2. 4 days ago

    [BUSINESS] 2 sources
    Thai banks receive credit outlook upgrades and industry awards

    Fitch Ratings upgraded the credit outlook to ‘stable’ for several Thai banks following Thailand's sovereign outlook upgrade, while Kasikornbank was named ‘Thailand’s Best Bank’ by Euromoney for the third year.

Sources

infoquest.co.th · srilankabiz.lk · srilankachronicle.com · thaipr.net