Fitch Ratings

Fitch Ratings (Thailand) Limited has affirmed The Siam Cement Public Company Limited’s (SCC) National Long-Term Rating at ‘A+(tha)’ with Stable Outlook. The agency has also affirmed SCC’s senior unsecured rating at ‘A+(tha)’ and National Short-Term Rating at ‘F1(tha)’. The affirmation of SCC’s National Long-Term Rating with Stable Outlook reflects the company’s solid medium-term credit…

Fitch Ratings (Thailand) Limited has affirmed SCG Packaging Public Company Limited’s (SCGP) National Long-Term Rating of ‘A+(tha)’. The Outlook is Stable. The agency has also affirmed the senior unsecured rating of SCGP’s THB40 billion medium-term note programme at ‘A+(tha)’. The rating is based on SCGP’s relationship with its parent, The Siam Cement Public Company Limited […]

Fitch Ratings (Thailand) Limited has affirmed SCG Chemicals Co., Ltd.’s (SCGC) National Long-Term Rating of ‘A+(tha)’. The Outlook is Stable. The agency has also affirmed the ‘A+(tha)’ senior unsecured rating of SCGC’s THB100 billion medium-term note programme. SCGC’s rating and the Outlook is equalised with that of its 100% parent, The Siam Cement Public Company […]

Fitch Ratings (Thailand) has affirmed Bangkok Aviation Fuel Services Public Company Limited’s (BAFS) National Long-Term Rating at ‘BBB+(tha)’ and maintained the Negative Outlook. BAFS recently granted a subsidiary of Bangchak Petroleum Public Company Limited the right to manage a part of subsidiary Fuel Pipeline Transportation Company Limited’s (FPT) pipeline system (Bangkok to Bang Pa-in) for […]

Fitch Ratings (Thailand) has affirmed the National Short-Term Rating on Esso (Thailand) Public Company Limited’s bills of exchange revolving programme of up to THB12 billion at ‘F2(tha)’. The maturity of each series of bills is no more than 270 days under the programme. Esso’s rating reflects our expectation of a recovery in operating cash flow […]

Fitch Ratings (Thailand) has affirmed Asia Plus Group Holdings Public Company Limited’s (ASP) National Long-Term Rating at ‘A(tha)’ with a Stable Outlook. At the same time, the agency has affirmed ASP’s National Short-Term Rating at ‘F1(tha)’. KEY RATING DRIVERSASP’s ratings reflect its well-established securities franchise and diversified business model relative to Fitch-rated standalone securities…

Fitch Ratings (Thailand) has upgraded the National Long-Term Rating of KTBST Securities Public Company Limited (KTBSTSEC) to ‘BB+(tha)’ from ‘BB(tha)’. The Outlook is Stable. Fitch has also affirmed the company’s National Short-Term Rating and subordinated debt rating at ‘B(tha)’. The upgrade is based on Fitch’s view that the company’s earnings capacity has sustainably improved on […]

Fitch Ratings (Thailand) has affirmed Finansia Syrus Securities Public Company Limited’s (FSS) National Long-Term Rating at ‘BBB+(tha)’, and its National Short-Term Rating at ‘F2(tha)’. The Outlook is Stable. KEY RATING DRIVERSThe National Ratings of FSS reflect the company’s established concentrated franchise in Thailand’s competitive securities brokerage industry, moderate non-brokerage business lines…

Fitch Ratings (Thailand) has affirmed DAD SPV Company Limited’s (DAD SPV) bonds at ‘AAAsf(tha)’ with a Stable Outlook. The CMBS transaction is backed by 30-year lease and fee payments from the government office centre in northern Bangkok, which is developed and managed by the Ministry of Finance’s wholly owned asset-development company, Dhanarak Asset Development Company […]

Fitch has upgraded the National Long-Term Rating of Krungthai Zmico Securities Company Limited (KTZ) to ‘AA-(tha)’ from ‘A+(tha)’ and affirmed its National Short-Term Rating at ‘F1+(tha)’. The Outlook is Stable. Fitch has also upgraded KTZ’s senior unsecured debt rating to ‘AA-(tha)’ from ‘A+(tha)’. The rating action follows the upgrade of the National Long-Term Rating on…