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BULLETIN: DBS Thai Unit, TMB, and IFCT Announce Merger Mar 04
Standard & Poors, March 2004
Abstract
SINGAPORE (Standard & Poor's) March 9, 2004--Standard & Poor's Ratings Services said today that it will continue to monitor developments associated with the recent announcement by Thai Military Bank Public Co. Ltd. (TMB; Bpi), DBS Thai Danu Bank Public Co. Ltd. (DTDB) and Industrial Finance Corp. of Thailand (IFCT; BB+/Negative/B) of their agreement to merge. As details of the proposed merger and necessary approvals are received, Standard & Poor's will review implications for the banks' ratings. IFCT originally was slated to merge with BankThai Public Co. Ltd. in plans announced last year, but that has been cancelled. The proposed merger between TMB, DTDB, and IFCT, if successful, will create the fifth-largest banking group in Thailand by assets (approximately Thai baht...
Companies mentioned in this report are: Industrial Finance Corp. of Thailand,DBS Bank Ltd.,TMB Bank Public Co. Ltd.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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