Friday August 17, 2018 04:57

RATINGS Press Releases

Daily Repair Panthenol Soothing Gel Cream Business—16 Aug 18

A mild soothing gel cream formulated with 2.5% of Panthenol strengthens the skin barrier to soothe sensitive skin while restoring the optimal moisture balance with continuous hydration Main Features Hydrating + soothing + skin barrier strengthening

Fitch Downgrades CIMBT to #AA-(tha)#; Maintains RWN on CGS-CIMB TH Stcoks—16 Aug 18

Bangkok--16 Aug--Fitch Ratings

Fitch Ratings (Thailand) has downgraded CIMB Thai Bank Public Company Limited's (CIMBT) National Long-Term Rating to 'AA-(tha)' from 'AA(tha)'. The agency has also downgraded the guaranteed bonds issued by subsidiary, CIMB Thai Auto Co., Ltd. (CIMBT Auto) to 'AA-(tha)' from 'AA(tha)'. At the same time, Fitch has maintained the Rating Watch Negative (RWN) on CGS-CIMB Securities (Thailand) Co., Ltd.'s (CGS-CIMB TH) National Long-Term Rating of 'AA-(tha)' and National Short-Term Rating of 'F1+(tha)'. A full list of rating action is at the end of this rating action commentary.

The downgrades are a result of Fitch's revised view of Malaysia-based CIMB Bank Berhad, which we have aligned with our consolidated view of parent, CIMB Group Holdings Berhad (CIMB), due to their integrated management and strategy. The downgrades also reflect Fitch's expectation that key financial indicators for CIMB Bank Berhad, which have remained at the lower-end of local peers, are not likely to approach levels commensurate with our previous view, notwithstanding the improvement in the previous few years.

The downgrade of CIMBT Auto's guaranteed bonds was triggered by the downgrade of CIMBT, the guarantor.
KEY RATING DRIVERS
Fitch believes there is a high probability that CIMBT would receive extraordinar

SI Group Rises to the Top 7 Percent for Global Corporate Social Responsibility Energy—16 Aug 18

SI Group , a leading global developer and manufacturer of performance additives and intermediates, has received its third silver rating for corporate social responsibility from EcoVadis , an international organization that provides sustainability ratings

Fitch Ratings: Further Growth for Thailand#s Competitive Non-Life Insurers Stcoks—06 Aug 18

Better economic prospects, with a pick-up in consumer purchasing power, should support continued premium growth for Thailand's motor, industrial and property and marine insurance segments for the remainder of 2018. However, profitability could be

Fitch Rates ThaiBev#s Unsecured THB Debentures #AA(tha)# Stcoks—03 Aug 18

Fitch Ratings (Thailand) Limited has assigned Thai Beverage Public Company Limited's (ThaiBev, BBB-/AA(tha)/Stable) new senior unsecured debentures amounting to THB70 billion a National Long-Term Rating of 'AA(tha)'. The debentures are in five tranches

Fitch Affirms ThaiBev at #BBB-#/#AA(tha)#; Outlook Stable Stcoks—02 Aug 18

Fitch Ratings-Bangkok/Singapore-02 August 2018: Fitch Ratings has affirmed Thai Beverage Public Company Limited's (ThaiBev) Long-Term Foreign-Currency Issuer Default Rating at 'BBB-', and its National Long-Term Rating at 'AA(tha)'. The Outlook is

Fitch Affirms ThaiBev at #BBB-#/#AA(tha)#; Outlook Stable Stcoks—02 Aug 18

Fitch Ratings has affirmed Thai Beverage Public Company Limited's (ThaiBev) Long-Term Foreign-Currency Issuer Default Rating at 'BBB-', and its National Long-Term Rating at 'AA(tha)'. The Outlook is Stable. ThaiBev experienced challenges in its domestic

Fitch: Thai Banks# Asset Quality Stabilising in Line with Expectations Stcoks—01 Aug 18

The 1H18 results for listed Thai banks show that the asset-quality cycle has started to stabilise, with positive impact on banks' profitability and buffers. The trend is in line with Fitch Ratings' expectations (see Fitch: Thai Banks' Asset Quality

Mount Oswald Colleges LLP Proposed Senior Secured Debt Assigned #AA# Preliminary Outlook Stcoks—31 Jul 18

MADRID (S&P Global Ratings) July 31, 2018--S&P Global Ratings today assigned its preliminary 'AA' long-term insured rating to the debt to be issued by U.K.-based limited-purpose vehicle Mount Oswald Colleges LLP (the project). The preliminary

Fitch Affirms Siam Cement at #A+(tha)#; Rates New Debentures #A+(tha)# Stcoks—26 Jul 18

Fitch Ratings (Thailand) Limited has affirmed the National Long-Term Rating and the senior unsecured rating of The Siam Cement Public Company Limited (SCC) at 'A+(tha)'. The Outlook on the National Long-Term Rating is Stable. At the same time, Fitch has

Fitch Affirms JWD InfoLogistics at #BBB+(tha)#; Outlook Negative Stcoks—24 Jul 18

Fitch Ratings (Thailand) Limited has affirmed JWD InfoLogistics Public Company Limited's National Long-Term Rating at 'BBB+(tha)'. The Outlook remains Negative. Simultaneously, the agency has affirmed JWD's National Short-Term Rating at 'F2(tha)'. The

Fitch Affirms Mercedes-Benz (Thailand)#s MTN Programmes at #AAA(tha)# Stcoks—23 Jul 18

Fitch Ratings (Thailand) Limited has affirmed the National Long-Term Rating on Mercedes-Benz (Thailand) Limited's (MBTh) medium-term note (MTN) programme of up to THB15 billion (MTN-2) and its THB10 billion MTN programme (MTN-1) at 'AAA(tha)'. The

Fitch Rates Navanakorn Electricity#s Thai Baht Debentures #A-(tha)# Stcoks—18 Jul 18

Fitch Ratings (Thailand) has assigned Navanakorn Electricity Generating Company Limited's (NNEG, A-(tha)/Stable) upcoming senior unsecured amortising debentures of up to THB6.4 billion a National Long-Term Rating of 'A-(tha)'. Proceeds will be used to

Fitch Affirms SCB Asset Management at #Excellent(tha)# Stcoks—16 Jul 18

Fitch Ratings (Thailand) Limited has affirmed Thailand-based SCB Asset Management Co., Ltd's (SCBAM) National Investment Management Quality Rating (IMQR) at 'Excellent(tha)'. The Outlook is Stable. KEY RATING DRIVERS SCBAM's National IMQR reflects its

Fitch Maintains Rating Watch Negative on Thailand#s CGS-CIMB Stcoks—13 Jul 18

Fitch Ratings (Thailand) has maintained the Rating Watch Negative on CGS-CIMB Securities (Thailand) Co., Ltd.'s (CGS-CIMB TH) National Long-Term Rating of 'AA-(tha)' and National Short-Term Rating at 'F1+(tha)'. Fitch placed CGS-CIMB TH's ratings on

Fitch Affirms Finansa at #BBB-(tha)#; Outlook Stable Stcoks—13 Jul 18

Fitch Ratings (Thailand) has affirmed Finansa Public Company Limited's (FNS) National Long-Term Rating at 'BBB-(tha)' with a Stable Outlook. It also affirmed the company's National Short-Term Rating at 'F3(tha)'. KEY RATING DRIVERS The ratings reflect

Fitch Upgrades Asia Plus Group Holdings to #A(tha)#; Outlook Stable Stcoks—13 Jul 18

Fitch has today upgraded the National Long-Term Rating on Asia Plus Group Holdings Public Company Limited (ASP) to 'A(tha)' from 'A-(tha)'. The Outlook is Stable. At the same time, the agency has upgraded ASP's National Short-Term Rating to 'F1(tha)'

Fitch Affirms Thailand#s TOP at #AA-(tha)#; Outlook Stable Stcoks—13 Jul 18

Fitch Ratings (Thailand) has affirmed refining and petrochemical company Thai Oil Public Company Limited's (TOP) National Long-Term Rating at 'AA-(tha)' with a Stable Outlook after the company announced its final investment decision on its clean-fuel

Fitch Affirms KTB Securities (Thailand) at #BB(tha)#; Outlook Stable Stcoks—12 Jul 18

Fitch Ratings-Bangkok-12 July 2018: Fitch Ratings (Thailand) has affirmed KTB Securities (Thailand) Public Company Limited's (KTBST) National Long-Term Rating at 'BB(tha)' with a Stable Outlook and National Short-Term Rating at 'B(tha)'. KEY RATING

Fitch Affirms Thailand#s Finansia Syrus at #BBB+(tha)#; Outlook Stable Stcoks—12 Jul 18

Fitch Ratings-Bangkok-12 July 2018: Fitch Ratings (Thailand) has affirmed Finansia Syrus Securities Public Company Limited's (FSS) National Long-Term Rating at 'BBB+(tha)' with a Stable Outlook, and its National Short-Term Rating at 'F2(tha)'. KEY RATING

Fitch: Thai Retail Developers# Large Investments Pose Risks Stcoks—11 Jul 18

Thai commercial real-estate developers' increasing need for funding and the potential growth of REITs were discussed during Fitch Ratings (Thailand) Limited's semi-annual "Property Investment Outlook" briefing today. The conference also highlighted

Nautiz X2 All-In-One Rugged Android Handheld Upgraded to Android 7.0 IT—10 Jul 18

Handheld Group , a leading manufacturer of rugged mobile computers, today announced that the Nautiz X2 enterprise handheld now comes with the Android 7.0 operating system. The popular Nautiz X2 was first introduced in February 2017 and is built for data

New York City Housing Development Corp. Short-Term Rating On Certain Multifamily Housing Revenue Stcoks—06 Jul 18

SAN FRANCISCO (S&P Global Ratings) July 5, 2018--S&P Global Ratings corrected by withdrawing its short-term rating on New York City Housing Development Corp. 's series 2008J, 2008K, 2009I-2, 2010H, 2011F-2, 2011F-3, 2013 D-2, 2014B-2, 2014D-2,

St. Gabriel, LA Revenue And Refunding Rating Raised To #A# From #A-# On Criteria Stcoks—06 Jul 18

CENTENNIAL (S&P Global Ratings) July 5, 2018--S&P Global Ratings raised its long-term rating to 'A' from 'A-' on St. Gabriel, La.'s series 2016 limited-tax revenue and refunding bonds based on the application of its "Issue Credit Ratings Linked

Maumelle, AR#s Series 2018 Sales And Use Tax Bonds Rated #AA-# Stcoks—06 Jul 18

CENTENNIAL (S&P Global Ratings) July 5, 2018--S&P Global Rating has assigned its 'AA-' rating to Maumelle, Ark.'s series 2018 sales and use tax bonds. The outlook is stable. "We expect the pledged revenue stream will likely remain steady as the

Rating Raised On Greek RMBS Transaction Estia Mortgage Finance#s Class A Notes Following Sovereign Stcoks—05 Jul 18

MILAN (S&P Global Ratings) July 5, 2018--S&P Global Ratings today raised to 'BBB- (sf)' from 'BB+ (sf)' its credit rating on Estia Mortgage Finance PLC's class A notes. Today's upgrade follows our June 25, 2018, raising of our long-term sovereign

Japan-Based Capital Servicing STRONG Ranking As A Commercial Loan Special Servicer Outlook Stcoks—05 Jul 18

TOKYO (S&P Global Ratings) July 5, 2018--S&P Global Ratings today said it has affirmed its STRONG servicer ranking on Capital Servicing Co. Ltd. (CSC), which it categorizes as a commercial loan special servicer. The outlook on the ranking is

SAI Global Holdings I (Australia) Pty Ltd. Outlook Revised To #B# Ratings Stcoks—05 Jul 18

MELBOURNE (S&P Global Ratings) July 5, 2018--S&P Global Ratings said today that it has revised its rating outlook to negative from stable on SAI Global Holdings I (Australia) Pty Ltd. We also affirmed the long-term issuer credit rating on the

Gansu Highway#s Proposed Senior Unsecured Notes Rated #BBB-# Stcoks—05 Jul 18

SINGAPORE (S&P Global Ratings) July 5, 2018--S&P Global Ratings today said it has assigned its 'BBB-' long-term issue rating to a proposed issue of U.S. dollar-denominated senior unsecured notes issued by Gansu Provincial Highway Aviation Tourism

Various Rating Actions Taken In Spanish RMBS Transactions AyT Genova Hipotecario IX And X Following Stcoks—04 Jul 18

LONDON (S&P Global Ratings) July 4, 2018--S&P Global Ratings today took various credit rating actions in two Spanish residential mortgage-backed securities (RMBS) transactions, AyT Genova Hipotecario IX Fondo de Titulizacion Hipotecaria and AyT