Fitch Ratings (Thailand) has assigned a National Long-Term Rating of 'A(tha)' to Asia Sermkij Leasing Public Company Limited's (ASK, A(tha)/Stable) upcoming issue of Thai baht senior unsecured debentures. The proceeds will be used for debt repayment and working capital.KEY RATING DRIVERSTh
Fitch Ratings (Thailand) Limited has downgraded FNS Holdings Public Company Limited's National Long-Term Rating to 'B-(tha)', from 'B(tha)'. All of FNS's ratings have been placed on Rating Watch Negative (RWN).The downgrade and RWN reflect high liquidity and refinancing risk, as FNS is relying on asse
Fitch Ratings has upgraded Thailand-based telecommunications company Advanced Info Service Public Company Limited's (AIS) and subsidiary Advanced Wireless Network Company Limited's (AWN) National Long-Term Rating and senior unsecured ratings to 'AAA(tha)' from 'AA (tha)'. The
Fitch Ratings has assigned Export-Import Bank of Thailand's (EXIM, BBB /Stable) USD100 million three-year senior unsecured notes a final rating of 'BBB '. The notes were issued under the bank's USD3 billion medium-term note (MTN) programme.The assignment of the final rating follows the receipt of final do
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 reflect its robust external finances an
Weak profitability in Thailand's securities sector is likely to lead to greater impetus for consolidation, particularly for smaller independent companies that have weaker franchises, Fitch Ratings says in a new report. Profitability in the sector in 2023 is at the lowest level in over 10 years, o
Dr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), announced that on September 28, 2023, Fitch Ratings
Fitch Ratings (Thailand) has assigned Thai ORIX Leasing Co., Ltd.'s (TOLC) Thai baht guaranteed bonds a final National Long-Term Rating of 'AAA(tha)'. The outlook is Stable.The final rating is in line with the expected rating assigned on 3 August 2023 after final documentation confirmed the information
Dr. Benjarong Suwankiri, Senior Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), and Mrs. Wanpen Unchundacha, Executive Vice President of EXIM Thailand, met with Mr. James McCormack, Managing Director and Global He
Thailand's economic recovery could be constrained by a global slowdown, while the new coalition government's economic stimulus policies could lead to higher government debt, Fitch Ratings analysts said at the company's annual conference on Thailand held today.The conference opened with a keynote address by Dr Sethaput Suthiwartnar
Fitch Ratings (Thailand) has affirmed Eastern Polymer Group Public Company Limited's (EPG) National Long-Term Rating and the National Long-Term Rating on its senior unsecured debt at 'A-(tha)'. The Outlook is Stable.The affirmation reflects EPG's strong financial profile despite a temporary increase
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 balance its strong external finances an
Fitch Ratings has affirmed Standard Chartered Bank (Thai) Public Company Limited (SCBT) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'A-'. The Outlooks are Stable. Fitch has also affirmed the bank's National Long-Term Rating at 'AAA(tha)' with a Stable Outlook.A full list of
Fitch Ratings has affirmed the ratings on Minor International Public Company Limited's (MINT) US dollar guaranteed senior perpetual capital securities at 'BBB'.The rating reflects the credit enhancement provided to investors by the guarantee from Thailand-based Bangkok Bank Public Company Limited (B
Fitch Ratings (Thailand) has assigned KASIKORNBANK Public Company Limited's (KBank, BBB/AA (tha)/Stable/bbb) upcoming Japanese yen-denominated senior unsecured long-term debentures a National Long-Term Rating of 'AA (tha)'. The debentures will be issued in line with Thailand's Digital Infrastructure Sandbox and
Fitch Ratings has affirmed United Overseas Bank (Thai) Public Company Limited's (UOBT) Long-Term Issuer Default Rating (IDR) at 'A-' and National Long-Term Rating at 'AAA(tha)'. The Outlooks are Stable. Fitch has also affirmed the bank's Shareholder Support Rating (SSR) at 'a-', Short-Term
Fitch Ratings has affirmed Thailand-based PTT Public Company Limited's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB ' and National Long-Term Rating at 'AAA(tha)'. The Outlook is Stable. The agency has also affirmed the Short-Term IDR at 'F1', the Nation
Fitch Ratings (Thailand) has assigned SCB X Public Company Limited's ( AA (tha)/Stable) senior unsecured medium-term note (MTN) programme a National Long-Term Rating of 'AA (tha)' and a National Short-Term Rating of 'F1 (tha)'. The ratings of the programme apply only to senior unsecured issues u
Fitch Ratings (Thailand) has affirmed Bangkok Aviation Fuel Services Public Company Limited's (BAFS) National Long-Term Rating at 'BBB (tha)'. The Outlook remains Negative. The agency has also affirmed its National Short-Term Rating at 'F2(tha)' and the National Long-Term Rating on it
Fitch Ratings has assigned a first-time National Long-Term Rating of 'AA(tha)' to Land and Houses Securities Public Company Limited (LHS). Fitch has also assigned a National Short-Term Rating of 'F1 (tha)' to LHS. The Outlook is Stable.KEY RATING DRIVERSShareholder Support Drives Ratings: LHS'
Fitch Ratings has affirmed DAOL Securities (Thailand) Public Company Limited's (DAOLSEC) National Long-Term Rating at 'BB (tha)' and National Short-Term Rating at 'B(tha)', and removed them from Rating Watch Negative (RWN). The Outlook on the National Long-Term Rating is Stable.The affirmati
Thai banks will most likely have stronger performances in 2023 due to lower credit costs and a pick-up in loan growth, supported by a stronger economic recovery, according to Fitch Ratings' 2023 briefing, Thailand's Economic and Bank Outlook, in Bangkok on Friday.Dr Somprawin Manprasert, Chief Economist of the Economic I
Fitch Ratings has affirmed Thailand-based Siam City Cement Public Company Limited's (SCCC) National Long-Term Rating at 'A(tha)', its National Short-Term Rating at 'F1(tha)' and the National Long-Term Rating on its senior unsecured debentures at 'A(tha)'. The Outlook is Stable.SCCC's ratings reflect
Fitch Ratings (Thailand) has assigned a National Long-Term Rating of 'A(tha)' to Asia Sermkij Leasing Public Company Limited's (ASK, A(tha)/Stable) upcoming issue of Thai baht senior unsecured debentures. The proceeds will be used for debt repayment and working capital.KEY RATING DRIVERSThe sen
Fitch Ratings has affirmed Thai Life Insurance Public Company Limited's (TLI) Insurer Financial Strength (IFS) Rating at 'A-' (Strong) and National IFS Rating at 'AAA(tha)'. The Outlooks are Stable.The ratings reflect its 'Favourable' company profile, solid capital and 'Strong' financial performance with soun
Fitch Ratings has assigned Thailand-based Card X Co.,Ltd. (CardX) a first-time National Long-Term Rating of 'AA(tha)' and National Short-Term Rating of 'F1 (tha)'. The Outlook is Stable.KEY RATING DRIVERSHigh Chance of Shareholder Support: The ratings are based on Fitch's expectation of a high
Fitch Ratings has affirmed the Insurer Financial Strength (IFS) Rating on Muang Thai Life Assurance Public Company Limited (MTL) at 'A-' and the Long-Term Issuer Default Rating (IDR) at 'BBB '. The Outlook on the ratings is Stable.At the same time, Fitch has affirmed the National IFS Rating at 'AAA(tha)
Fitch Ratings (Thailand) Limited has assigned a 'AA (tha)' rating to Advanced Info Service Public Company Limited's ( AA (tha)/Stable) proposed senior unsecured debentures of up to THB10 billion. The proceeds will be used as working capital, to refinance existing debt and to fund capex. The proposed debentures constitute
Fitch Ratings (Thailand) has revised IRPC Public Company Limited's Outlook to Negative from Stable while affirming the National Long-Term Rating at 'A-(tha)' and National Short-Term Rating at 'F2(tha)'. The agency has also affirmed the 'A-(tha)' rating on IRPC's senior unsecured debentures and THB40 bil
Fitch Ratings has withdrawn Thailand-based Total Access Communication Public Company Limited's (DTAC) National Long-Term Rating of 'A (tha)' and National Short-Term Rating of 'F1(tha)'.Fitch is withdrawing the ratings as DTAC no longer exists after a merger with True Corporation Public Company Limited. Accordingly, F
