Fitch Rates EASY BUY#s THB Senior Unsecured Bonds at #AA+(tha)#

Stocks and Financial Services Press Releases Thursday August 23, 2018 14:55
Bangkok--23 Aug--Fitch Ratings
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 up to THB1.5 billion of senior unsecured bonds.
The bonds will have a maturity of two years. The proceeds from the issue will be used for working capital and debt refinancing.
KEY RATING DRIVERS
The bonds are rated at the same level as EB's National Long-Term Rating of 'AA+(tha)' as they represent the unsubordinated and unsecured obligations of the company.

EB's ratings are driven by Fitch's expectations of institutional support from its parent, namely ACOM CO., LTD. (A-/Stable). This view reflects EB's strategic importance to its parent as indicated by the parent's significant 71% ownership, high levels of management control and integration, and ongoing evidence of funding and operational support.

RATING SENSITIVITIES
Any change in EB's National Long-Term Rating would have a similar effect on the bonds' rating.

The National Ratings of EB may be affected by changes in ACOM's ratings. Fitch may take rating action if the agency believes there are changes in ACOM's propensity to provide extraordinary support to EB. For example, Fitch may upgrade EB's ratings if its significance to the parent increases in a way that makes it a core subsidiary of the parent. The agency may take negative rating action if the parent significantly reduces its ownership or withholds financial commitments. However, Fitch does not expect such changes to occur in the medium term.


Latest Press Release

Huawei Announces Q1 2019 Business Results

Huawei today announced its business results for the first quarter of 2019. In Q1 of this year, Huawei generated CNY179.7 billion in revenue, an increase of 39% year-on-year. The company's net profit margin in Q1 2019 was about 8%, slightly higher than...

ShaktiCoin Opens Mining Registration Globally

The Swiss Shakti Foundation has opened mining registration across the world coinciding with the publication of the first of its four-part white paper. The Swiss Foundation would like to bring the following three points to public attention. ONE: Early...

KTC invites members to shop for eye protection sunglasses in a variety of styles with 13% cash back at Sunglass Hut.

"KTC" or Krungthai Card Public Company Limited, supports members to care about their visions by avoiding direct contact with sunlight that continues to intensify day by day. KTC provides members a privilege to redeem for 13% cash back without...

Photo Release: KBank joins forces with Electronics Extreme for online gaming top-up via K-Payment Gateway

Mr. Akaranant Thitasirivit (third from right), KBank First Senior Vice President, and Mr. Thanin Piromward (third from left), Chief Executive Officer of Electronics Extreme Co., Ltd., Thailand's leading provider of online games including Ragnarok Online,...

Photo Release: EXIM Thailand Joins Berne Union Spring Meeting 2019

Mr. Pisit Serewiwattana (third right), President of Export-Import Bank of Thailand (EXIM Thailand) and EXIM Thailand's executives recently presented export direct lending and outlook for CLMV market as well as discussing various issues with more than 80...

Related Topics