Bangkok-20 May-Fitch Ratings Service revenues for Thai telecom operators are likely to decline modestly in 2020 due to a slowing economy amid the coronavirus pandemic, says Fitch Ratings. We expect the sector's free cash flow to turn negative in 2020, as higher capex and spectrum payments exceed cash flow from operations. Fitch expects mobile service revenues for Thai telecom operators to decline by 2%-3% in
Bangkok-27 Sep-Fitch Ratings Fitch Ratings (Thailand) Limited has affirmed Siam Future Development Public Company Limited's (SF) National Long-Term Rating at 'BBB(tha)' with a Stable Outlook, its National Short-Term Rating at 'F3(tha)' and its outstanding senior unsecured debentures at 'BBB(tha)'. KEY RATING DRIVERS Lower Leverage Than Expected: Fitch expects SF's funds flow from operations (FFO) adjusted net
Bangkok-27 Nov-Fitch Ratings Fitch Ratings (Thailand) has affirmed the National Short-Term Rating on ESSO (Thailand) Public Company Limited's (Esso) bills of exchange revolving programme of up to THB12 billion at 'F1(tha)'. The maturity of each series of bills is no more than 270 days under the programme. KEY RATING DRIVERS Leverage Improved: Fitch expects Esso's financial leverage, measured by FFO
Bangkok-28 Sep-Fitch Ratings Fitch Ratings (Thailand) Limited has affirmed Siam Future Development Public Company Limited's (SF) National Long-Term Rating at 'BBB(tha)' with a Stable Outlook, National Short-Term Rating at 'F3(tha)' and outstanding senior unsecured debentures at 'BBB(tha)'. KEY RATING DRIVERS Maintaining High Financial Leverage: Fitch expects SF's adjusted net debt/EBITDAR to increase to
Bangkok-6 Dec-Fitch Ratings Fitch Ratings' outlook on Thai banks in 2017 is for the terrain to remain difficult, with continued pressures particularly on asset quality and profitability. Banks will be hampered by the low-interest-rate environment, muted levels of economic growth, and higher loan delinquencies (particularly in the SME and retail segments). Nevertheless, Fitch expects that these pressures should
Bangkok-24 Nov-Fitch Ratings Fitch Ratings (Thailand) Limited has affirmed Bangkok Aviation Fuel Services Public Company Limited's (BAFS) National Long-Term Rating at 'A (tha)' and its National Short-Term Rating at 'F1(tha)'. The Outlook is Stable. KEY RATING DRIVERS Higher Leverage, Temporary Breach: Fitch expects BAFS's FFO-adjusted net leverage to increase and temporarily remain above the tolerance level
Bangkok-7 Jul-Fitch Ratings Bank of China's ( A/Stable/F1) recent announcement on the sale of Bank of China (Thai) Public Company Limited ( AAA(tha)/Stable/F1 (tha)) to Bank of China (Hong Kong) Limited ( A/Stable/F1) will not have material rating implications on the credit profiles of all three banks, Fitch Ratings says. Fitch expects the change in BOCT's immediate parent from BOC to BOCHK to ha
Bangkok-8 Dec-Fitch Ratings Link to Fitch Ratings' Report: 2016 Outlook: Thai Banks The operating environment remains challenging for the Thai banking sector, and Fitch expects asset quality to deteriorate further in 2016. However, bank ratings generally remain supported by the sufficient loan-loss reserve buffers and solid capitalisation. Fitch believes that the SME loans and unsecured personal
Bangkok-27 Aug-Fitch Ratings Fitch Ratings says Thailands three largest mobile phone operators are likely to report 2014 service revenue that is unchanged from a year earlier compared with growth of 7.3% in 2013. Growth in data revenue will be strong but will be barely enough to offset the fall in voice revenue. Fitch expects mobile service revenue at the three telcos - Advanced Info Service Public