Fitch Ratings

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 […]

Fitch Ratings has affirmed Thai Reinsurance Public Company Limited’s (THRE) Insurer Financial Strength (IFS) Rating at ‘A-‘ (Strong). The Outlook is Stable. The affirmation reflects THRE’s ‘Favourable’ company profile, ‘Strong’ capitalisation, and ‘Good’ investment and liquidity risk. It also takes into consideration THRE’s temporarily weak underwriting performance in 2022 due to…

Fitch Ratings (Thailand) has affirmed UOB Capital Services Company Limited’s (UOBCS) National Long-Term Rating at ‘AAA(tha)’ and National Short-Term Rating at ‘F1+(tha)’. The Outlook is Stable. KEY RATING DRIVERSRatings Reflect Shareholder Support: UOBCS’s National Ratings are driven by Fitch’s expectation that its parent, United Overseas Bank (Thai) Public Company Limited (UOBT; AAA(tha)/Stable), would…

Fitch Ratings has affirmed SCG Chemicals Public Company Limited’s (SCGC) National Long-Term Rating and the senior unsecured rating of SCGC’s THB100 billion medium-term note programme at ‘A+(tha). The Outlook remains Negative. SCGC’s ratings are equalised with that of its stronger parent, The Siam Cement Public Company Limited (SCC, A+(tha)/Negative), under Fitch’s Parent and Subsidiary Linkage […]

Fitch Ratings has affirmed Thai Beverage Public Company Limited’s (ThaiBev) Long-Term Foreign-Currency Issuer Default Rating at ‘BBB-‘ and National Long-Term Rating at ‘AA(tha)’ with a Stable Outlook. Fitch has also affirmed the senior unsecured rating at ‘AA(tha)’. The affirmation reflects our expectation ThaiBev will continue deleveraging to a level consistent with its current rating within […]

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