Following a review of Krung Thai Bank (KTB) under Standard&Poor's revised bank criteria (published on Nov. 9, 2011), we have affirmed our 'BBB/A-2' rating on KTB. The outlook is stable. Our rating on KTB reflects the bank's 'bbb-' anchor, "adequate" business position, "moderate" capital and earnings, "adequate" risk position, "average" funding, and "adequate" liquidity. Our rating also factors in potential extraordinary government support, in the event of distress, as KTB has "high systemic importance." The stable outlook reflects our expectation that the bank is likely to maintain its financial profile, despite minor deterioration in its asset quality and capitalization. As we previously announced, on Dec. 6, 2011, Standard&Poor's Ratings Services affirmed its 'BBB/A-2' long-term and short-term
