Fitch Ratings (Thailand) Limited has upgraded the National Long-Term Rating of FNS Holdings Public Company Limited to 'CCC+(tha)' from 'CCC-(tha)'. We have also affirmed its National Short-Term Rating at 'C(tha)'. Simultaneously, Fitch has withdrawn the ratings. The upgrade reflects reduction in refinancing risk after FNS successfully redeemed its debentures in October 2025. The rating reflects FNS's tight liquidity, as Fitch expects its wellness business to operate with negative cash flow for
Fitch Ratings has affirmed Thailand-based telecommunications company Advanced Info Service Public Company Limited's (AIS) and subsidiary Advanced Wireless Network Company Limited's (AWN) National Long-Term...
Fitch Ratings (Thailand) has affirmed Asia Plus Group Holdings Public Company Limited's (ASP) National Long-Term Rating at 'A(tha)' with a Stable Outlook. Fitch has also affirmed the National Short-Term Rating at 'F1(tha)'. Key Rating...
Fitch Ratings (Thailand) has revised the Outlook on Asia Sermkij Leasing Public Company Limited's (ASK) National Long-Term Rating to Negative from Stable and affirmed the rating at 'A(tha)'. The National Short-Term Rating has been...
Fitch Ratings has assigned a National Rating of 'AAA(tha)' to Export-Import Bank of Thailand's (EXIM, AAA(tha)/Stable) upcoming senior unsecured bonds to be issued under its existing senior unsecured medium-term note (MTN) programme rated 'AAA(tha)'. The...
Fitch Ratings (Thailand) has assigned a National Long-Term Rating of 'A-(tha)' to Muangthai Capital Public Company Limited's (MTC, A-(tha)/Stable) upcoming Thai baht-denominated senior unsecured bonds. The company expects to...
Fitch Ratings has revised the Outlooks on PTT Public Company Limited's (PTT) and PTT Exploration and Production Public Company Limited's (PTTEP) Long-Term Issuer Default Ratings (IDRs) to Negative from Stable, and...
Fitch Ratings (Thailand) has assigned a National Long-Term Rating of 'A-(tha)' to Muangthai Capital Public Company Limited's (MTC, A-(tha)/Stable) upcoming senior unsecured notes. The company expects the notes to be issued in...
Fitch Ratings has affirmed Export-Import Bank of Thailand's (EXIM) Long-Term Issuer Default Rating (IDR) at 'BBB+' and National Long-Term Rating at 'AAA(tha)'. The Outlook is Stable. A full list of rating actions is below. Key Rating Drivers Ratings...
Fitch Ratings has assigned GC Treasury Center Company Limited's proposed US dollar subordinated perpetual debentures a rating of 'BB'. The debentures are guaranteed by Thailand-based PTT Global Chemical Public Company Limited ...
Fitch Ratings (Thailand) has affirmed ICBC (Thai) Leasing Company Limited's (ICBCTL) National Long-Term Rating at 'AAA(tha)' and National Short-Term Rating at 'F1+(tha)'. The Outlook is Stable. Key Rating Drivers Shareholder Support Drives...
Fitch Ratings Bangkok 09 Jul 2025: Fitch Ratings (Thailand) has affirmed DAD SPV Company Limited's (DAD SPV) bonds at 'AAAsf(tha)' with a Stable Outlook. The CMBS transaction is backed by 30-year lease and fee payments from the government...
Fitch Ratings has affirmed SCB X Public Company Limited's (SCBX) and The Siam Commercial Bank Public Company Limited's (SCB) Long-Term Issuer Default Ratings (IDRs) at 'BBB' and National Long-Term Ratings at 'AA+(tha)...
Fitch Ratings has assigned Laos-based Xayaburi Power Company Limited's (XPCL, B+/Stable) Thai baht senior unsecured non-guaranteed debentures due 2030 a final rating of 'B+'. The Outlook is Stable. RATING...
Fitch Ratings (Thailand) has affirmed Land and Houses Securities Public Company Limited's (LHS) National Long-Term Rating at 'AA(tha)' and National Short-Term Rating at 'F1+(tha)'. The Outlook is Stable. Key Rating...
Fitch Ratings has maintained the Rating Watch Negative (RWN) on the 'AAA(tha)' National Long-Term Rating, 'F1+(tha)' National Short-Term Rating and 'AAA(tha)' senior unsecured rating of Thailand-based...
Fitch Ratings (Thailand) has affirmed ICBC (Thai) Leasing Company Limited's (ICBCTL) National Long-Term Rating at 'AAA(tha)' and National Short-Term Rating at 'F1+(tha)'. The Outlook is Stable. KEY RATING DRIVERSShareholder Support...
Fitch Ratings (Thailand) has affirmed Phahonyothin Asset Management Co., Ltd.'s (PAMCO) THB30 billion medium-term note (MTN) programme at a National Long-Term Rating of 'AA+(tha)' and National Short-Term Rating of 'F1+(tha)'....
Fitch Ratings (Thailand) has affirmed IRPC Public Company Limited's (IRPC) National Long-Term Rating, senior unsecured rating, and the ratings on its senior unsecured debentures at 'BBB+(tha)'. The Outlook is Stable. Fitch has affirmed the National...
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...