Fitch Ratings

Fitch Ratings (Thailand) has affirmed SCB Asset Management Co., Ltd’s (SCBAM) National Investment Management Quality Rating (IMQR) at ‘Excellent(tha)’. The Outlook is Stable. KEY RATING DRIVERSThe rating is based on the following category scores: Investment process: StrongInvestment resources: ExcellentRisk management: ExcellentCompany and client servicing: ExcellentInvestment performance: Consistent National IMQRs are assigned…

Fitch Ratings has affirmed Standard Chartered Bank (Thai) Public Company Limited’s (SCBT) Long-Term Issuer Default Ratings (IDRs) at ‘A-‘ and National Long-Term Rating at ‘AAA(tha)’. The Outlooks are Stable. Fitch has also affirmed the bank’s Shareholder Support Rating (SSR) at ‘a-‘. A full list of rating actions is below. Fitch is withdrawing the Viability Rating […]

The proposed acquisition of fixed broadband operator – Triple T Broadband PLC (TTTBB) – by Advanced Info Service Public Company Limited (AIS, AA+(tha)/Stable) is in line with the company’s pursuit of a sustainable competitive position and profitable growth in Thailand’s telecom sector amid a slowing mobile business, says Fitch Ratings. The acquisition will drive up […]

Fitch Ratings (Thailand) has maintained the Rating Watch Negative (RWN) on FNS Holdings Public Company Limited’s (FNS) National Long- and Short-term Ratings of ‘BBB-(tha)’ and ‘F3(tha)’, respectively. The maintenance of the RWN is based on uncertainty over FNS’s future business plans and financial profile. KEY RATING DRIVERSThe RWN reflects uncertainty over FNS’s business direction and […]

Fitch Ratings has affirmed Thailand’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB+’ with a Stable Outlook. A full list of rating actions is at the end of this rating action commentary. KEY RATING DRIVERSStrong Externals, Structural Constraints: Thailand’s ratings are underpinned by the country’s sustained external finance strengths and strong macroeconomic policy framework. The […]

Fitch Ratings (Thailand) has downgraded Thailand-based integrated inland logistics operator JWD InfoLogistics Public Company Limited’s National Long-Term Rating to ‘BB+(tha)’ from ‘BBB-(tha)’ and National Short-Term Rating to ‘B(tha)’ from ‘F3(tha)’. At the same time, Fitch has affirmed the bond programme guaranteed by Credit Guarantee and Investment Facility (CGIF) at ‘AAA(tha)’.…

Fitch Ratings has revised the Outlook on SCG Chemicals Public Company Limited’s (SCGC) National Long-Term Rating to Negative, from Stable, and has affirmed the rating at ‘A+(tha)’. The agency has also affirmed the ‘A+(tha)’ senior unsecured rating of SCGC’s THB100 billion medium-term note programme. The rating action follows the Outlook revision on SCGC’s parent, The […]

Fitch Ratings (Thailand) has revised our Outlook on The Siam Cement Public Company Limited (SCC) to Negative from Stable. The agency has also affirmed SCC’s National Long-Term Rating and senior unsecured rating at ‘A+(tha)’ and its National Short-Term Rating at ‘F1(tha)’. At the same time, Fitch has assigned a senior unsecured rating of ‘A+(tha)’ to […]

Thailand’s securities industry will continue to face secular challenges pressuring profitability from continued compression of brokerage commission rates, fierce competition, as well as investments relating to digitalisation, says Fitch Ratings. Furthermore, renewed economic headwinds from a global growth slowdown will also lead to a less favourable liquidity environment. Fitch expects profitability to weaken from the […]