OREANDA-NEWS. Fitch Ratings has assigned a final rating of 'BBB-' to TMB Bank Public Company Limited's (TMB; BBB-/Stable) USD300m 5.5-year senior unsecured notes due October 2021. The notes are issued under TMB's USD3.0bn Euro medium-term note (EMTN) programme, and are issued by the bank's Cayman Islands branch. The EMTN programme was rated 'BBB-' in September 2013.

The rating action follows the completion of the bond issue, as well as the receipt of final documents conforming to information already received. The final rating is the same as the expected rating assigned on 23 March 2016.

KEY RATING DRIVERS
The notes are rated at the same level as TMB's Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'BBB-', representing the unsecured and unsubordinated obligations of the bank.

RATING SENSITIVITIES
The rating on the senior unsecured notes would be directly impacted by any changes in the bank's IDR.

For further details on TMB's key rating drivers and rating sensitivities, refer to the rating action commentary "Fitch Affirms Thailand's Mid-Sized Banks" dated 6 November 2015 and available at www.fitchratings.com.

The other ratings of TMB are unaffected by this action, and are as follows:
Long-Term IDR: 'BBB-'; Outlook Stable
Short-Term IDR: 'F3'
Viability Rating: 'bbb-'
Support Rating: '3'
Support Rating Floor: 'BB+'
National Long-Term Rating: 'A+(tha)'; Outlook Stable
National Short-Term Rating: 'F1(tha)'
USD3.0bn senior unsecured medium-term note programme: 'BBB-'
Long-term foreign-currency senior unsecured debt: 'BBB-'
Basel III Tier 2 subordinated debt rating: 'A(tha)'
Legacy Basel II subordinated debt rating: 'A(tha)'