Fitch Ratings

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…

Fitch Ratings (Thailand) has revised the Outlook on Bangkok Aviation Fuel Services Public Company Limited’s (BAFS) National Long-Term Rating to Negative, from Stable, and has affirmed the rating at ‘BBB+(tha)’. The Negative Outlook reflects the risks to BAFS’ deleveraging to a level that is consistent with its rating over the next 18-24 months. These include […]

Fitch Ratings (Thailand) has assigned an expected National Long-Term Rating of ‘AAA(tha)(EXP)’ to guaranteed bonds of up to THB1.0 billion to be issued by Thai ORIX Leasing Company Limited (TOLC). The Outlook is Stable. The final rating for the upcoming issuance is contingent upon the receipt of final documents conforming to information already received and […]