Fitch assigns ‘A(tha)’ rating to Bt35bn Siam Cement debentures
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Fitch Ratings (Thailand) has assigned a National Long-Term Rating of ‘A(tha)’ to Siam Cement’s new Bt35-billion unsecured and unsubordinated debentures.
The debentures will be issued in two tranches: No.2/2560 with an amount of Bt10 billion, due 2024, and No.3/2560 with an amount of Bt25 billion, due 2021.
The proceeds will be used to refinance maturing debentures and fund future capital expenditure and investments.
The notes are rated at the same level as the listed company’s National Long-Term Rating as they constitute direct, unsecured, unconditional and unsubordinated obligations of the company, Fitch said.
