EGCO Group Assigned “AA+ with Stable” Company Rating for 2nd Year in a Row
Electricity Generating Public Company Limited or EGCO Group has maintained its “AA” company rating and issue ratings for its senior unsecured debentures with a “Stable” outlook for the second consecutive year, as assessed by TRIS Rating, Thailand’s leading credit rating agency.
These ratings reaffirm industry confidence in EGCO Group as an investment-grade leader in power and energy-related businesses at the international level, supported by the company’s strong power portfolio and stable cash flow from long-term power purchase agreements (PPAs).
“TRIS Rating reaffirmed EGCO Group’s “AA” credit rating with a “Stable” outlook, consistent with the rating in 2024. This reflects the company’s strong market position as a leading power producer, with investments in numerous large power plants and a diversified range of fuel types, and locations. With a total equity capacity of around 6,700 megawatts, EGCO Group’s extensive power plant portfolio has delivered stable profitability and strengthened its investment capability,” said Mr. Somkiat Suttiwanich, EGCO Group’s Chief Financial Officer
The credit rating also considers the company’s strong cash flow, driven by investments in power projects backed by long-term PPAs with creditworthy off-takers. TRIS Rating expects that this strong cash flow, along with continued access to the capital market, will sufficiently support EGCO Group’s future investments.
The AA/Stable credit rating, which has been maintained for another year, underscores the confidence in EGCO Group as an investment-grade company with a stable power business and strong liquidity despite uncertainties in the global economy and energy sector.
“EGCO Group has committed to comprehensive organizational transformation through “Triple P” strategy including Profitability and Performance Energizing, Power and Energy-Related Focus, and Portfolio and People Management, which will continue to drive sustainable growth during the energy transition,” added Mr. Somkiat.
EGCO Group has a total equity capacity of around 6,700 megawatts in operation and under construction. Total equity capacity from renewable energy is 1,485 megawatts (equivalent to 22% of the total portfolio). The renewable energy (RE) portfolio includes biomass, hydropower, solar power, onshore and offshore wind power, fuel cells, and battery storage. In addition to power business, EGCO Group has other 12 energy-related businesses covering a fuel and infrastructure business and customer solution and startup business. EGCO Group’s facilities and other projects are located in 7 countries in Asia Pacific and North America regions, namely Thailand, Lao PDR, the Philippines, Indonesia, South Korea, Taiwan and USA. Learn more about EGCO Group through our website at www.egco.com or on social media at www.facebook.com/EGCOGroup.
