The "A +" rating reflects the future of Banpu's business stable growth, including the natural gas business in the U.S. where the Company recently completed the transaction of the Barnett shale last year. The acquisition has increased both the production capacity and the proven reserves from existing natural gas assets. For coal business, the demand is expected to recover as countries around the world are easing their lockdown measures of the COVID-19 pandemic. Meanwhile, Banpu's energy generation group continues to generate a stable cash flow. The rating also reflects the Company's strategic shift to transition into a fully integrated energy provider with strong focus on greener energy. The "stable" outlook reflects TRIS Rating's expectation that the Company will continue to be a leader in the energy industry with a strong financial discipline and cash management.
Mrs. Somruedee Chaimongkol, Chief Executive Officer of Banpu Public Company Limited, said "Banpu is pleased with TRIS Rating's confidence in our Company with the affirmed rating of "A+" despite the global challenges and volatility, not to mention the economic impact from the COVID-19 pandemic. Banpu is now going through a major transformation to build a sustainable growth. This will give us the competitive advantage and enable us to meet the needs of the future under the "Never Normal" era, where constant change can be expected. We are determined to drive our business to deliver "smarter energy for sustainability" to the world under the Greener, Smarter & Faster strategy by leveraging cutting-edge digital systems, technologies and innovations across the business units in our organization to meet customer needs that change rapidly."
We also strive to conduct our business sustainably, in line with ESG principles, which encompass environmental conservation, social responsibility, and good corporate governance. This has been the Company's practice for nearly four decades. Our goal is to create a consistent, long-term returns for shareholders and investors including sustainable values for all stakeholders in the 10 countries in which the Company operates.
Source: Ogilvy Group Thailand