Moody's backs KBank's Cayman issue | Bangkok Post: business

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Moody's backs KBank's Cayman issue

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Moody's Investors Service has given an AAA rating to the US$2.5-billion senior unsecured notes issued by the Cayman Islands branch of Kasikornbank (KBank). 

The rating service carries a stable outlook that received a two-notch uplift from its stand-alone baseline credit assessment (BCA) of baa2, based on Moody's assessment of the high probability of systematic support for the bank, given its strong market position.

The rating also takes into consideration the government's (Baa1 stable) track record of support for Thai banks, with the government's shareholding in some local banks.

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