Fitch Ratings

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 […]

Fitch Ratings has affirmed Electricity Generating Authority of Thailand’s (EGAT) Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB+’ with a Stable Outlook. The agency has also affirmed EGAT’s senior unsecured rating at ‘BBB+’. EGAT’s ratings reflect its Standalone Credit Profile (SCP) of ‘bbb+’, the same level as that of the Thai sovereign (BBB+/Stable). Fitch will […]

Fitch Ratings (Thailand) has placed the ‘F2(tha)’ National Short-Term Rating on Esso (Thailand) Public Company Limited’s (Esso) bills of exchange revolving programme of up to THB12 billion on Rating Watch Evolving (RWE). This follows the announcement on 11 January 2023 that ExxonMobil Asia Holdings Private Limited, Esso’s parent, will sell all of its interest in […]

Fitch Ratings (Thailand) has assigned a National Long-Term Rating of ‘AA-(tha)’ to Krungthai XSpring Securities Company Limited’s (KTX, AA-(tha)/Stable) senior unsecured notes of up to THB1,000 million. The notes will have a tenor of one and a half years. The notes will be issued under the 2023 medium-term note (MTN) programme and the proceeds will […]

Fitch Ratings (Thailand) has assigned Krungthai Xspring Securities Company Limited’s (KTX, AA-(tha)/Stable/F1+(tha)) medium-term note (MTN) programme a senior unsecured National Long-Term Rating of ‘AA-(tha)’ and National Short-Term Rating of ‘F1+(tha)’. The programme has a maximum size of THB7 billion, comprising debentures and bills of exchange of up to THB3 billion and THB4 billion, respectively. Proceeds…

Fitch Ratings (Thailand) has assigned a National Long-Term Rating of ‘AA-(tha)’ to Krungthai XSpring Securities Company Limited’s (KTX; AA-(tha)/Stable) senior unsecured notes of up to THB1,000 million. The notes will have a tenor of one and a half years. The notes will be issued under the 2021 medium-term note (MTN) programme and the proceeds will […]