Maybank unit’s debenture issue gains solid rating
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Fitch Ratings (Thailand) has assigned a national long-term rating of 'AA(tha)' to Maybank Kim Eng Securities (Thailand) Plc's upcoming Thai baht-denominated subordinated debentures.
The company will issue up to Bt1 billion of such debentures, and at issue, the debentures will have a tenor of one year. The firm plans to use the proceeds from the issuance to manage its own funding and liquidity requirements. This is the first rating that Fitch has assigned to a securities firm's subordinated debt in Thailand.
