SINGAPORE (Standard&Poor's) March 4, 2013--Standard&Poor's Ratings Services today assigned its 'BBB' rating to the senior unsecured notes that can be issued under the US$2.5 billion euro medium-term note (MTN) program of Krung Thai Bank Public Co. Ltd. (KTB; BBB/Stable/A-2; axA/axA-2). The senior notes will constitute direct, unconditional, unsecured, and unsubordinated obligations of KTB. They shall at all times rank equally with all the bank's other unsecured obligations. The rating on the notes is therefore equalized with the long-term counterparty credit rating on the Thailand-based bank. We have not assigned ratings to the subordinated debt that can be issued under the program because the offering circular does not contain the terms and conditions on the "non-viability" clause.
