Thailand Financial News

Fitch Ratings (Thailand) Limited has today upgraded the National Long-term rating of Central American Bank for Economic Integration’s (CABEI) THB2.374bn senior unsecured bonds, due 2017, to ‘AAA(tha)’ from ‘AA+(tha)’.

The rating upgrade follows the recalibrating of the mapping between the national and international rating scale, and the broad review of all National ratings under Fitch Ratings (Thailand)’s coverage, in order to maintain the consistency between the two rating scales.

CABEI’s ratings reflect its preferred creditor status and privileges conferred by its member countries, as well as its solid fundamentals (including a strong capital base), good asset quality and an established track record, in terms of self sustainable profitability. (more…)

The Monetary Authority of Singapore (MAS) and De Nederlandsche Bank N.V. (DNB) jointly announced the signing of a Memorandum of Understanding (MoU) for an arrangement to enhance liquidity provision to banks in non-routine situations. This will be effective immediately. (more…)

Advanced Semiconductor Engineering Inc. has signed a syndicated loan agreement with 17 banks. The five-year NT$12bn syndicated loan is led by Citibank, Taipei Fubon Commercial Bank, Bank of Taiwan, Calyon Corporate and Investment Bank and First Commercial Bank. (more…)

Moody’s Investors Service downgraded The Norinchukin Bank’s (Norinchukin) bank financial strength rating (BFSR) to C- from C, Baseline Credit Assessment (BCA) to Baa1 from A3, long-term ratings to Aa3 from Aa2, and ratings on the Subordinated Euro Medium Term Note Programme of its subsidiary Norinchukin Finance (Cayman) Limited to A1 from Aa3. (more…)

The fundamental credit outlook for the Icelandic banking system remains negative, reflecting the significant challenges still lying ahead in terms of rebuilding the sector, says Moody’s Investors Service in its new Banking System Outlook on Iceland.

Moody’s negative outlook for Icelandic banks expresses the rating agency’s view on the likely future direction of fundamental credit conditions in the industry over the next 12 to 18 months. (more…)

Moody’s Investors Service says that its industry outlook for banking systems in North Asia (ex-Japan) is negative, reflecting the impact of the slowdowns in global and domestic economies on the region’s banks.

“The slowdown and the consequent impact on the demand for exports — a key driver of growth in China, Hong Kong, Taiwan and Korea — are making themselves felt on the performances of banks in North Asia,” says Jerry Chien, MD for Moody’s Financial Institutions Group in Asia Pacific. (more…)

NEW ZIGBEE… SAN RAMON, Calif.- The ZigBee(R) Alliance, a global ecosystem of companies creating wireless solutions for use in energy management, commercial and consumer applications, today announced development of the ZigBee Green Power feature set to establish a global, standard technology for self-powered devices operating through energy harvesting techniques. (more…)

Fitch Ratings (Thailand) has today affirmed Finansa Public Company Limited’s (FNS) National Long-term rating at ‘BBB(tha)’ with a Stable Outlook, and its National Short-term rating at ‘F3(tha)’.

FNS’s ratings reflect its financial holding company structure and adequate capital and liquidity positions. (more…)

Moody’s Investors Service downgraded Shinkin Central Bank’s (SCB) bank financial strength rating (BFSR) to C- from C, Baseline Credit Assessment (BCA) to Baa1 from A3, long-term deposit and senior unsecured debt ratings to Aa3 from Aa2. The bank’s P-1 short-term deposit rating was unaffected. (more…)

Appoints SGD Inter Trading Co., Ltd. as exclusive channel distributor for its AV products in Thailand

Western Digital, the leading global hard drive manufacturer, today announced the appointment of SGD Inter Trading Co., Ltd as its exclusive channel distributor on WD AV products in Thailand. (more…)