Fitch Ratings

Fitch Ratings (Thailand) has affirmed Bangkok Aviation Fuel Services Public Company Limited’s (BAFS) National Long-Term Rating at ‘BBB+(tha)’. The Outlook remains Negative. The agency has also affirmed its National Short-Term Rating at ‘F2(tha)’ and the National Long-Term Rating on its senior unsecured debentures at ‘BBB+(tha)’. The Negative Outlook reflects the risk that BAFS’s financial leverage…

Fitch Ratings has assigned a first-time National Long-Term Rating of ‘AA(tha)’ to Land and Houses Securities Public Company Limited (LHS). Fitch has also assigned a National Short-Term Rating of ‘F1+(tha)’ to LHS. The Outlook is Stable. KEY RATING DRIVERSShareholder Support Drives Ratings: LHS’s National Ratings are based on Fitch’s expectation that there is a high […]

Fitch Ratings has affirmed DAOL Securities (Thailand) Public Company Limited’s (DAOLSEC) National Long-Term Rating at ‘BB+(tha)’ and National Short-Term Rating at ‘B(tha)’, and removed them from Rating Watch Negative (RWN). The Outlook on the National Long-Term Rating is Stable. The affirmation and removal from RWN reflect our view that the company’s increased capital base will […]

Thai banks will most likely have stronger performances in 2023 due to lower credit costs and a pick-up in loan growth, supported by a stronger economic recovery, according to Fitch Ratings’ 2023 briefing, “Thailand’s Economic and Bank Outlook”, in Bangkok on Friday. Dr Somprawin Manprasert, Chief Economist of the Economic Intelligence Center (EIC) at The […]

Fitch Ratings has affirmed Thailand-based Siam City Cement Public Company Limited’s (SCCC) National Long-Term Rating at ‘A(tha)’, its National Short-Term Rating at ‘F1(tha)’ and the National Long-Term Rating on its senior unsecured debentures at ‘A(tha)’. The Outlook is Stable. SCCC’s ratings reflect the company’s business profile as a small regional cement manufacturer with a solid…

Fitch Ratings (Thailand) has assigned a National Long-Term Rating of ‘A(tha)’ to Asia Sermkij Leasing Public Company Limited’s (ASK, A(tha)/Stable) upcoming issue of Thai baht senior unsecured debentures. The proceeds will be used for debt repayment and working capital. KEY RATING DRIVERSThe senior unsecured debentures are rated at the same level as ASK’s National Long-Term […]

Fitch Ratings has affirmed Thai Life Insurance Public Company Limited’s (TLI) Insurer Financial Strength (IFS) Rating at ‘A-‘ (Strong) and National IFS Rating at ‘AAA(tha)’. The Outlooks are Stable. The ratings reflect its ‘Favourable’ company profile, solid capital and ‘Strong’ financial performance with sound new business value (NBV) margin. However, the rating strength is offset […]

Fitch Ratings has assigned Thailand-based Card X Co.,Ltd. (CardX) a first-time National Long-Term Rating of ‘AA(tha)’ and National Short-Term Rating of ‘F1+(tha)’. The Outlook is Stable. KEY RATING DRIVERSHigh Chance of Shareholder Support: The ratings are based on Fitch’s expectation of a high probability that CardX’s parent, SCB X Public Company Limited (SCBX; AA+(tha)/Stable), would […]

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 […]