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Bulletin: Bank of Ayudhya Public Co. Ltd. Ratings Unaffected By Bank's Announcement To Acquire HSBC's Thailand Retail Business Jan 12
Standard & Poors, Jan 2012
Abstract
MUMBAI (Standard & Poor's) Jan. 25, 2012--Standard & Poor's Ratings Services said today that its counterparty credit rating on Thailand-based Bank of Ayudhya Public Co. Ltd. (BAY; BBB-/Stable/A-3) is not affected by the bank's announcement that it will acquire the Thailand retail banking business of The Hongkong and Shanghai Banking Corp. Ltd. (HSBC; AA-/Stable/A-1+; cnAAA/cnA-1+). The acquisition is small and is unlikely to affect BAY's credit profile. We expect our risk adjusted capital ratio for the bank to remain moderate in the next two years. HSBC's retail banking business in Thailand includes credit cards, personal loans, mortgages, and deposits. The assets (excluding cash) account for only 1.4% of BAY's assets as of Dec. 31, 2011. The deal size is less...
Companies mentioned in this report are: Bank of Ayudhya 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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