Wednesday February 20, 2019 10:53

FITCH RATINGS Press Releases

Fitch Affirms FTREIT at #A(tha)# and Withdraws Ratings Stcoks—13 Feb 19

Fitch Ratings (Thailand) Limited has affirmed Frasers Property Thailand Industrial Freehold & Leasehold REIT's (FTREIT) National Long-Term Rating and its national senior unsecured rating at 'A(tha)'. The Outlook is Stable. Fitch has simultaneously

Fitch Ratings: Competition to Weigh on Thai Telcos# Profitability Events—13 Feb 19

The latest quarterly results of two major Thai telecom operators signal a challenging outlook for the sector amid intense competition, says Fitch Ratings. The agency expects domestic telcos to embark on aggressive marketing activities, which are likely

Fitch Assigns SHREIT Final #BB+(tha)# Rating, Outlook Stable Stcoks—05 Feb 19

Fitch Ratings (Thailand) Limited has assigned Strategic Hospitality Extendable Freehold and Leasehold Real Estate Investment Trust (SHREIT) a final National Long-Term Rating of 'BB+(tha)', which has been downgraded from the 'BBB(tha)(EXP)' expected

Fitch Rates Siam Cement#s New Debentures #A+(tha)# Stcoks—31 Jan 19

Fitch Ratings (Thailand) Limited has assigned a National Long-Term Rating of 'A+(tha)' to The Siam Cement Public Company Limited's (SCC, A+(tha); Stable) new THB15 billion unsecured and unsubordinated debentures - No.1/2562 - due 2023. The proceeds will

Fitch Rates Siam Commercial Bank#s USD Senior Notes Final #BBB+# Stcoks—30 Jan 19

Fitch Ratings has assigned a final rating of 'BBB+' to The Siam Commercial Bank Public Company Limited's (SCB; BBB+/Stable/bbb+) USD500 million senior unsecured notes maturing in February 2024 and USD500 million senior unsecured notes maturing in

Fitch Rates Siam Commercial Bank#s USD Senior Notes #BBB+(EXP)# Stcoks—28 Jan 19

Fitch Ratings has assigned an expected 'BBB+(EXP)' rating to The Siam Commercial Bank Public Company Limited's (SCB; BBB+/Stable/bbb+) proposed US dollar senior unsecured notes, which will be issued under the USD3.5 billion medium-term note (MTN)

Fitch Ratings: GPSC#s Debt to Rise Ratings Still on Watch Stcoks—24 Jan 19

Fitch Ratings says Global Power Synergy Public Company Limited's (GPSC, A+(tha)/Rating Watch Negative) plan to invest in the Energy Recovery Unit Project (ERU) - a 250 MW thermal power plant that is part of Thai Oil Public Company Limited's (TOP,

Fitch Rates KTB Securities# THB Subordinated Debentures #BB-(tha)# Stcoks—22 Jan 19

Fitch Ratings (Thailand) has today assigned a National Long-Term Rating of 'BB-(tha)' to KTB Securities (Thailand) Public Company Limited's (KTBST; BB(tha)/Stable) upcoming issue of up to THB400 million in subordinated debentures. The debentures will

Fitch Ratings: Dispute Settlement Costs Trim DTAC#s Rating Headroom Stcoks—11 Jan 19

The announcement by Thailand's third-largest mobile operator, Total Access Communication Public Company Limited (DTAC; BBB/AA(tha)/Stable), that it has agreed to a settlement with state-owned CAT Telecom Public Company Limited (CAT) potentially reduces

Fitch Rates MBKET#s Thai Baht Subordinated Debentures #AA(tha)# Stcoks—08 Jan 19

Fitch Ratings (Thailand) has today assigned a National Long-Term Rating of 'AA(tha)' to Maybank Kim Eng Securities (Thailand) Public Company Limited's (MBKET; AA+(tha)/Stable) upcoming Thai baht-denominated subordinated debentures. MBKET will issue up to

Fitch Ratings: Concession Wins to Lift PTT#s Reserves and Output Stcoks—18 Dec 18

PTT Exploration and Production Public Company Limited's (PTTEP) successful bid for rights to the Erawan and Bongkot fields will boost the group's reserves and production profile, Fitch Ratings says. PTTEP is the exploration and production arm of PTT

Fitch Affirms BAFS at #A+(tha)#; Maintains Negative Outlook Stcoks—13 Dec 18

Fitch Ratings (Thailand) Limited has affirmed Bangkok Aviation Fuel Services Public Company Limited's (BAFS) National Long-Term Rating at 'A+(tha)' and maintained Negative Outlook. Fitch has also affirmed BAFS's National Short-Term Rating at

Fitch Affirms SMBC Bangkok Branch#s THB Notes at #AAA(tha)# Stcoks—13 Dec 18

Fitch Ratings (Thailand) has affirmed the National Long-Term Ratings on Sumitomo Mitsui Banking Corporation, Bangkok Branch's (SMBC Bangkok Branch) Thai baht-denominated senior unsecured notes at 'AAA(tha)'. KEY RATING DRIVERS The note ratings are based

Fitch Assigns Minor International#s USD Guaranteed Securities Final #BBB+# Stcoks—07 Dec 18

Fitch Ratings has assigned Minor International Public Company Limited's (MINT) USD300 million guaranteed senior perpetual capital securities a final rating of 'BBB+'. The final rating is in line with the expected rating assigned on 23 November 2018 and

Fitch Affirms Thai Life Insurance at #BBB+#; Outlook Stable Stcoks—28 Nov 18

Fitch Ratings has affirmed Thai Life Insurance Public Company Limited's (TLI) Insurer Financial Strength (IFS) Rating at 'BBB+' (Good) and its National IFS Rating at 'AAA(tha)'. The Outlooks are Stable. KEY RATING DRIVERS The affirmation reflects TLI's

Fitch Affirms Esso (Thailand)#s Bills of Exchange at #F1(tha)# Stcoks—27 Nov 18

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

Fitch Affirms Five Thai State Policy Banks Stcoks—27 Nov 18

The affirmations reflect Fitch's view that the banks would benefit from a high probability of state support if needed. EXIM's Issuer Default Ratings (IDRs) and senior debt rating are at the same level as that of the sovereign (BBB+/Stable/F2). The

Fitch Assigns First-Time #BBB+(EXP)# to Minor International#s USD Guaranteed Stcoks—23 Nov 18

Fitch Ratings has assigned Minor International Public Company Limited's (MINT) proposed guaranteed senior perpetual capital securities an expected rating of 'BBB+(EXP)'. The rating reflects the credit enhancement provided to investors by the

Fitch Rates EXIM#s USD300 Million Senior Notes Final #BBB+# Stcoks—22 Nov 18

Fitch Ratings has assigned Export-Import Bank of Thailand's (EXIM, BBB+/Stable) USD300 million five-year senior unsecured notes a final rating of 'BBB+'. The notes were issued under the bank's USD1.5 billion medium-term note (MTN) programme. The

Fitch Downgrades CGS-CIMB TH to #A(tha)/F1(tha)#; Off Outlook Stable Stcoks—19 Nov 18

Fitch Ratings (Thailand) has downgraded CGS-CIMB Securities (Thailand) Co., Ltd.'s (CGS-CIMB TH) National Long-Term Rating to 'A(tha)' from 'AA-(tha)' and National Short-Term Rating to 'F1(tha)' from 'F1+(tha)'. All ratings have been removed from Rating

Fitch Rates EXIM#s USD Senior Notes #BBB+(EXP)# Stcoks—15 Nov 18

Fitch Ratings has assigned an expected rating of 'BBB+(EXP)' to Export-Import Bank of Thailand's (EXIM, BBB+/Stable) five-year senior unsecured notes of up to USD300 million. The notes will be issued under the bank's USD1.5 billion medium-term note (MTN)

Fitch Ratings: Global Power Synergy Still on Watch after Appeal of Regulator Stcoks—14 Nov 18

The ratings on Global Power Synergy Public Company Limited (GPSC) remain on Rating Watch Negative (RWN) after the company said it submitted an appeal of the Energy Regulatory Commission's (ERC) order to block GPSC's acquisition of GLOW Energy Public

Fitch Affirms Makro#s Rating at #A(tha)#; Outlook Stable Stcoks—14 Nov 18

Fitch Ratings (Thailand) Limited has affirmed Siam Makro Public Company Limited's National Long-Term Rating at 'A(tha)'. The Outlook is Stable. KEY RATING DRIVERS Overseas Expansion Drives Rising Leverage: Makro's funds from operations (FFO) adjusted

Fitch Affirms CP ALL#s Ratings at #A(tha)#; OutlookStable Stcoks—14 Nov 18

Fitch Ratings (Thailand) Limited has affirmed retailer CP ALL Public Company Limited's National Long-Term Rating at 'A(tha)' with a Stable Outlook. Fitch has also affirmed the National Long-Term Rating of its secured bonds at 'A(tha)', the National

Fitch Rates Advanced Wireless Network#BBB+#; Stable Outlook Stcoks—01 Nov 18

Fitch Ratings has assigned Thailand-based telecommunications company Advanced Wireless Network Company Limited (AWN) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) of'BBB+'. The Outlooks are Stable. KEY RATING DRIVERS Ratings

Fitch Ratings: 900MHz Spectrum Win Positive for DTAC#s Growth Stcoks—30 Oct 18

Thai telco Total Access Communication Public Company Limited's (DTAC; BBB/AA(tha)/Stable) market position is likely to strengthen after it secured 900MHz spectrum at an auction, which plugs the gap in its spectrum portfolio that had constrained its

Fitch Affirms Muang Thai Life at #BBB+#; Outlook Stable Stcoks—29 Oct 18

Fitch Ratings has affirmed Muang Thai Life Assurance Public Company Limited's (MTL) Insurer Financial Strength (IFS) Rating at 'BBB+' (Good) and National IFS Rating at 'AAA(tha)'. The Outlooks are Stable. KEY RATING DRIVERS The affirmation reflects the

Fitch Affirms AIS at #BBB+#/#AA+(tha)#, AWN at #AA+(tha)# Stcoks—17 Oct 18

Fitch Ratings has affirmed Thailand-based telecommunications company Advanced Info Service Public Company Limited's (AIS) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'BBB+' with a Stable Outlook. The agency has also affirmed

Fitch Affirms DTAC at #BBB/AA(tha)#; Outlook Stable Stcoks—16 Oct 18

Fitch Ratings has affirmed Thailand-based telecommunications company Total Access Communication Public Company Limited's (DTAC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'BBB' with a Stable Outlook. The agency has also

Fitch Affirms TASCO at #A-(tha)#/Stable and Withdraws Ratings Stcoks—12 Oct 18

Fitch Ratings (Thailand) Limited has affirmed Tipco Asphalt Public Company Limited's (TASCO) National Long-Term Rating at 'A-(tha)' and its National Short-Term Rating at 'F2(tha)'. The Outlook is Stable. Fitch has simultaneously chosen to withdraw