Fitch Ratings

Fitch Ratings has maintained Total Access Communication Public Company Limited’s (DTAC) ‘A+(tha)’ National Long-Term Rating and ‘F1(tha)’ National Short-Term Rating on Rating Watch Negative. Fitch placed DTAC on Rating Watch Negative on 28 February 2022 after the company’s board approved a merger agreement with CP Group-owned True Corporation Public Company Limited (TRUE). Fitch will resolve […]

Fitch Ratings has affirmed Thailand-based Global Power Synergy Public Company Limited’s (GPSC) Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-‘ and National Long-Term Rating at ‘A+(tha)’. The Outlook is Stable. The agency has also affirmed the ‘A+(tha)’ rating on GPSC’s senior unsecured ratings. The affirmation reflects GPSC’s strong business profile as a leading private-power…

Fitch Ratings has affirmed Thailand’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB+’ with a Stable Outlook. A full list of rating actions is at the end of this rating action commentary. Key Rating DriversExternal Strengths, Structural Constraints: Thailand’s ratings are underpinned by its robust external finances and strong macroeconomic policy framework, which should bolster […]

Fitch Ratings (Thailand) has assigned KASIKORNBANK Public Company Limited’s (KBank; AA+(tha)/Stable) senior unsecured medium-term note (MTN) programme a National Long-Term Rating of ‘AA+(tha)’ and National Short-Term Rating of ‘F1+(tha)’. The programme has a maximum issuance size of THB30 billion (or equivalent in other currencies), and allows revolving issuance within the next two years. The debentures […]

Fitch Ratings (Thailand) Limited has affirmed community-mall developer and operator Siam Future Development Public Company Limited’s (SF) National Long-Term Rating at ‘BBB+(tha)’ with a Stable Outlook. Fitch has also affirmed the National Short-Term Rating at ‘F2(tha)’ and national senior unsecured rating at ‘BBB+(tha)’. The National Long-Term Rating incorporates a two-notch uplift from SF’s…

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

Fitch Ratings (Thailand) has affirmed the National Long-Term Ratings on the guaranteed debentures of Risland (Thailand) Company Limited (RLT) at ‘BBB+(tha)’. The Outlook is Negative. The debentures are guaranteed by China-based Country Garden Holdings Company Limited (CGH). The guaranteed debentures’ ratings are based entirely on our assessment of CGH’s credit profile. The affirmation follows the […]