KEY RATING DRIVERS
The affirmation reflects TLI's 'Good' business profile, 'Strong' capitalisation, and 'Good' investment and asset risk. It also takes into consideration the insurer's strong earnings profile, balanced by slowing premium growth. TLI's IFS is constrained by Thailand's sovereign IDR of 'BBB+' and rated one notch below the insurer's unconstrained IFS rating of 'A-'. อ่านต่อ…
Fitch Affirms Esso (Thailand)’s Bills of Exchange at ‘F1(tha)’
Fitch Ratings (Thailand) has affirmed the National Short-Term Rating on ESSO (Thailand) Public Company Limited’s (Esso) bills of exchange revolving programme of up to THB12 billion at ‘F1(tha)’. The maturity of each series of bills is no more than 270 days under the programme.KEY RATING อ่านต่อ…
Fitch Affirms Five Thai State Policy Banks
Fitch Ratings has affirmed the ratings of the following policy banks in Thailand:- Bank for Agriculture and Agricultural Cooperatives (BAAC)- Export-Import Bank of Thailand (EXIM)- Government Housing Bank (GH BANK)- Islamic Bank of Thailand (IBANK)- Small and Medium Enterprise Development Bank of อ่านต่อ…
Fitch Assigns First-Time ‘BBB+(EXP)’ to Minor International’s USD Guaranteed Securities
Fitch Ratings has assigned Minor International Public Company Limited’s (MINT) proposed guaranteed senior perpetual capital securities an expected rating of ‘BBB+(EXP)’.The rating reflects the credit enhancement provided to investors by the unconditional and irrevocable guarantee from อ่านต่อ…
Fitch Rates EXIM’s USD300 Million Senior Notes Final ‘BBB+’
Fitch Ratings has assigned Export-Import Bank of Thailand’s (EXIM, BBB+/Stable) USD300 million five-year senior unsecured notes a final rating of ‘BBB+’. The notes were issued under the bank’s USD1.5 billion medium-term note (MTN) programme.The assignment of the final rating follows the receipt of อ่านต่อ…
Fitch Downgrades CGS-CIMB TH to ‘A(tha)/F1(tha)’; Off RWN; Outlook Stable
Fitch Ratings (Thailand) has downgraded CGS-CIMB Securities (Thailand) Co., Ltd.’s (CGS-CIMB TH) National Long-Term Rating to ‘A(tha)’ from ‘AA-(tha)’ and National Short-Term Rating to ‘F1(tha)’ from ‘F1+(tha)’. All ratings have been removed from Rating Watch Negative, on which they were placed on อ่านต่อ…
Fitch Rates EXIM’s USD Senior Notes ‘BBB+(EXP)’
Fitch Ratings has assigned an expected rating of ‘BBB+(EXP)’ to Export-Import Bank of Thailand’s (EXIM, BBB+/Stable) five-year senior unsecured notes of up to USD300 million. The notes will be issued under the bank’s USD1.5 billion medium-term note (MTN) programme. EXIM plans to use the proceeds to อ่านต่อ…
Fitch Ratings: Global Power Synergy Still on Watch after Appeal of Regulator Decision
The ratings on Global Power Synergy Public Company Limited (GPSC) remain on Rating Watch Negative (RWN) after the company said it submitted an appeal of the Energy Regulatory Commission’s (ERC) order to block GPSC’s acquisition of GLOW Energy Public Company Limited (GLOW), Fitch Ratings says.Fitch อ่านต่อ…
Fitch Affirms Makro’s Rating at ‘A(tha)’; Outlook Stable
Fitch Ratings (Thailand) Limited has affirmed Siam Makro Public Company Limited’s National Long-Term Rating at ‘A(tha)’. The Outlook is Stable.KEY RATING DRIVERSOverseas Expansion Drives Rising Leverage: Makro’s funds from operations (FFO) adjusted net leverage is likely to rise to 2.0x-2.5x over อ่านต่อ…
Fitch Affirms CP ALL’s Ratings at ‘A(tha)’; OutlookStable
Fitch Ratings (Thailand) Limited has affirmed retailer CP ALL Public Company Limited’s National Long-Term Rating at ‘A(tha)’ with a Stable Outlook. Fitch has also affirmed the National Long-Term Rating of its secured bonds at ‘A(tha)’, the National Long-Term Rating of its unsecured bonds at อ่านต่อ…
Fitch Rates Advanced Wireless Network’BBB+’; Stable Outlook
Fitch Ratings has assigned Thailand-based telecommunications company Advanced Wireless Network Company Limited (AWN) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) of’BBB+’. The Outlooks are Stable.KEY RATING DRIVERSRatings Equalised with Parent’s: AWN’s ratings are equalised อ่านต่อ…
Fitch Ratings: 900MHz Spectrum Win Positive for DTAC’s Growth
Thai telco Total Access Communication Public Company Limited’s (DTAC; BBB/AA(tha)/Stable) market position is likely to strengthen after it secured 900MHz spectrum at an auction, which plugs the gap in its spectrum portfolio that had constrained its competitiveness, says Fitch Ratings.We think that อ่านต่อ…
Fitch Affirms Muang Thai Life at ‘BBB+’; Outlook Stable
Fitch Ratings has affirmed Muang Thai Life Assurance Public Company Limited’s (MTL) Insurer Financial Strength (IFS) Rating at ‘BBB+’ (Good) and National IFS Rating at ‘AAA(tha)’. The Outlooks are Stable.KEY RATING DRIVERSThe affirmation reflects the insurer’s good business profile, strong อ่านต่อ…
Fitch Affirms AIS at ‘BBB+’/’AA+(tha)’, AWN at ‘AA+(tha)’
Fitch Ratings has affirmed Thailand-based telecommunications company Advanced Info Service Public Company Limited’s (AIS) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at ‘BBB+’ with a Stable Outlook. The agency has also affirmed AIS’s National Long-Term Rating at ‘AA+(tha)’ อ่านต่อ…
Fitch Affirms DTAC at ‘BBB/AA(tha)’; Outlook Stable
Fitch Ratings has affirmed Thailand-based telecommunications company Total Access Communication Public Company Limited’s (DTAC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at ‘BBB’ with a Stable Outlook. The agency has also affirmed DTAC’s National Long-Term Rating at อ่านต่อ…
Fitch Affirms TASCO at ‘A-(tha)’/Stable and Withdraws Ratings
Fitch Ratings (Thailand) Limited has affirmed Tipco Asphalt Public Company Limited’s (TASCO) National Long-Term Rating at ‘A-(tha)’ and its National Short-Term Rating at ‘F2(tha)’. The Outlook is Stable. Fitch has simultaneously chosen to withdraw TASCO’s ratings for commercial reasons.KEY RATING อ่านต่อ…
Fitch Rates AEON Thana Sinsap’s THB Notes ‘A-(tha)’
Fitch Ratings (Thailand) has assigned AEON Thana Sinsap (Thailand) Public Company Limited’s (AEONTS; A-(tha)/Stable) upcoming issue of Thai baht-denominated senior unsecured notes a National Long-Term Rating of ‘A-(tha)’. Proceeds of the issuance will be used for general corporate purposes and อ่านต่อ…
Fitch Rates THB Notes Issued by SMBC’s Bangkok Branch ‘AAA(tha)’
Fitch Ratings (Thailand) has assigned Sumitomo Mitsui Banking Corporation’s (SMBC; A/Stable/F1) upcoming issuance of up to THB3 billion in senior unsecured notes a National Long-Term Rating of ‘AAA(tha)’. The tenure for the notes will be up to three years. The notes will be issued by SMBC’s Bangkok อ่านต่อ…
Fitch Ratings: Thailand Resilient to Rising Global Risks
Thailand’s economy and banks should be able to weather heightening global risks from rising US interest rates, although escalating trade wars could pressure global growth next year, according to sovereign and banking analysts at Fitch Ratings’ annual Thai conference in BangkokDr Veerathai อ่านต่อ…
Fitch Affirms Siam Future at ‘BBB(tha)’; Outlook Stable
Fitch Ratings (Thailand) Limited has affirmed Siam Future Development Public Company Limited’s (SF) National Long-Term Rating at ‘BBB(tha)’ with a Stable Outlook, National Short-Term Rating at ‘F3(tha)’ and outstanding senior unsecured debentures at ‘BBB(tha)’.KEY RATING DRIVERSMaintaining High อ่านต่อ…
