SINGAPORE (Standard&Poor's) July 31, 2002--Standard&Poor's Ratings Services said today it affirmed its double-'B'-pi public information rating on Thailand's Krung Thai Bank Public Ltd. (KTB). Nevertheless, Standard&Poor's indicated that the rating could be lowered if the bank is partially-privatized, an event expected in the final quarter of 2002, subject to specific details, including the emergence of any new substantial institutional shareholder. The existing rating incorporates an implicit degree of government support the bank enjoys as a 91.77% state-owned bank. The government has indicated that it intends to privatize the bank and that government ownership in KTB is likely to be reduced to 49%. On partial privatization, Standard&Poor's will assess KTB primarily on the
