Sunday December 8, 2019 21:22

Stcoks Press Release : 29 Nov 2019

Survey Polled Over 500 Global Executives on How Financial Services and Technology Firms are Navigating the Current Fintech Landscape Stcoks—29 Nov 19

PwC's 2019 Global Fintech Survey polled over 500 financial services (FS) and technology, media and telecommunications (TMT) executives worldwide to figure out the factors that will determine the winners and losers in the race to develop and profit from

Fitch Places Bangkok Commercial Asset Management on RWN After IPO Approval Stcoks—29 Nov 19

Bangkok--29 Nov--Fitch Ratings

Fitch Ratings has placed Bangkok Commercial Asset Management Public Company Limited's (BAM) National Long-Term Rating of 'AA-(tha)', National Short-Term Rating of 'F1+(tha)' and National Long-Term Rating on its senior unsecured debt of 'AA-(tha)' on Rating Watch Negative (RWN). This follows an announcement that BAM's IPO and timeline received the approval of Thai authorities on 21 November 2019.

KEY RATING DRIVERS

The RWN reflects a potential rating downgrade as the government's propensity to provide support to BAM is likely to be reduced after the IPO. The stock-market listing plan indicates that the Financial Institutions Development Fund, a unit of the Bank of Thailand, may cut its stake in BAM to below 50% from 99.99% after the IPO. The level of state linkages with and control over BAM may also decline.

BAM's ratings are driven by sovereign support. The company was established in 1998 to manage distressed assets arising from the 1997 financial crisis, although its policy role has gradually diminished as Thailand's financial sector has recovered. Moreover, the privatisation plan suggests the state does not see BAM as a long-term core holding. Nonetheless, BAM has an important role as the country's largest distressed-asset manager, with consistent profitability. BAM has benefi

Fitch Affirms Minor International#s USD Guaranteed Securities# #BBB+# Stcoks—29 Nov 19

Fitch Ratings has affirmed the 'BBB+' rating on Minor International Public Company Limited's (MINT) USD300 million guaranteed senior perpetual capital securities. KEY RATING DRIVERS Driven by Guarantor's Rating: The notes are rated at the same level as