TRIS assigns ‘BBB-’ company rating to Mida Assets

The rating reflects the listed firm’s diversified business line, proven track record in instalment-sales financing businesses, and the stable earnings from its auto hire-purchase business – the core operation operated by its subsidiary, Mida Leasing – TRIS said.
The rating also takes into consideration Mida Assets’ relatively small revenue base in real-estate development projects and hotel operations, as well as its less-diversified sources of funding. 
In addition, the rating is constrained by a slowdown in the Thai economy, which may limit the company’s revenue expansion in the short to medium term, the ratings firm said.