Fitch Ratings

Fitch Ratings has affirmed the Insurer Financial Strength (IFS) Rating on Muang Thai Life Assurance Public Company Limited (MTL) at ‘A-‘ and the Long-Term Issuer Default Rating (IDR) at ‘BBB+’. The Outlook on the ratings is Stable. At the same time, Fitch has affirmed the National IFS Rating at ‘AAA(tha)’ with a Stable Outlook and […]

Fitch Ratings (Thailand) Limited has assigned a ‘AA+(tha)’ rating to Advanced Info Service Public Company Limited’s (AIS; AA+(tha)/Stable) proposed senior unsecured debentures of up to THB10 billion. The proceeds will be used as working capital, to refinance existing debt and to fund capex. The proposed debentures constitute direct, unsecured, unconditional and unsubordinated obligations of the […]

Fitch Ratings has withdrawn Thailand-based Total Access Communication Public Company Limited’s (DTAC) National Long-Term Rating of ‘A+(tha)’ and National Short-Term Rating of ‘F1(tha)’. Fitch is withdrawing the ratings as DTAC no longer exists after a merger with True Corporation Public Company Limited. Accordingly, Fitch will no longer provide ratings or analytical coverage for DTAC. DTAC’s […]

Fitch has affirmed Krungthai XSpring Securities Company Limited’s (KTX) National Long-Term Rating at ‘AA-(tha)’ and National Short-Term Rating at ‘F1+(tha)’. The Outlook is Stable. KEY RATING DRIVERSShareholder Support-Driven Ratings: The National Long-Term Rating is driven by Fitch’s expectation that KTX’s major shareholder, Krung Thai Bank Public Company Limited (KTB, AAA(tha)/Stable), would provide…

Fitch Ratings (Thailand) has affirmed AEON Thana Sinsap (Thailand) Public Company Limited’s (AEONTS) National Long-Term Rating at ‘A-(tha)’. The Outlook is Stable. Fitch has also affirmed the company’s National Short-Term Rating at ‘F2(tha)’ and the senior unsecured ratings at ‘A-(tha)’. KEY RATING DRIVERSThe ratings of AEONTS reflect a well-established franchise in Thailand’s consumer…

Fitch Ratings (Thailand) has assigned a National Long-Term Rating of ‘AA(tha)’ to EASY BUY Public Company Limited’s (EB; AA(tha)/Stable) upcoming issue of Thai baht senior unsecured bonds. The bonds will have a tenor of up to three years. KEY RATING DRIVERSThe bonds are rated at the same level as EB’s National Long-Term Rating as they […]

Fitch Ratings has assigned a National Long-Term Rating of ‘AAA(tha)’ to Bank of Ayudhya Public Company Limited’s (BAY, AAA(tha)/Stable) senior unsecured medium-term note (MTN) programme. Fitch has also assigned a ‘AAA(tha)’ National Long-Term Rating to the upcoming senior unsecured debentures that will be issued under the programme. KEY RATING DRIVERSThe MTN programme and senior unsecured […]

Fitch Ratings has assigned an ‘A+(tha)’ rating to United Overseas Bank (Thai) Public Company Limited’s (UOBT, AAA(tha)/Stable) upcoming issue of Thai baht-denominated Additional Tier 1 (AT1) notes. The notes will be subordinate to the bank’s senior and Tier 2 obligations, and will be included in the bank’s regulatory ratios as AT1 capital. KEY RATING DRIVERSThe […]

Fitch Ratings (Thailand) has assigned ICBC (Thai) Leasing Company Limited’s (ICBCTL, AAA(tha)/Stable/F1+(tha)) senior unsecured notes a National Long-Term Rating of ‘AAA(tha)’. The notes will be issued under the 2022 medium-term note programme and the proceeds will be used for debt repayment and/or working capital. KEY RATING DRIVERSThe senior unsecured notes are rated at the same […]