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Moody's assigns counterparty risk ratings to 11 Thai banks

Moody's assigned counterparty risk ratings to 11 Thailand banks.

The rating agency on July 5 assigned local and foreign currency long-term counterparty risk ratings of Baa1 to Bangkok Bank PCL, CIMB Thai Bank PCL, Export-Import Bank of Thailand, Government Housing Bank, Kasikornbank PCL, Krung Thai Bank PCL, Siam Commercial Bank PCL, Standard Chartered Bank (Thai) PCL and TMB Bank PCL.

In addition, the rating agency assigned Bank of Ayudhya PCL and United Overseas Bank (Thai) PCL local and foreign currency long-term counterparty risk ratings of A3.

Moody's also assigned all 11 banks local and foreign currency short-term counterparty risk ratings of Prime-2.

The rating agency said the counterparty risk ratings are opinions of the ability of entities to honor the uncollateralized portion of nondebt counterparty financial liabilities and also reflect expected financial losses in the event that such liabilities are not honored. Such liabilities typically relate to transactions with unrelated parties.

The counterparty risk ratings assigned to the Thai banks are in line with the counterparty risk assessments already assigned, Moody's added.