Major Cineplex gets ‘A’ rating from TRIS

TRIS has also assigned an “A” rating to the company’s proposed issue of up to Bt500 million in senior unsecured debentures. The proceeds from the new debentures would be used to partially repay debt and build a reserve for investment.
The ratings reflect the company’s leading position in the Thai movie exhibition industry, the prime locations of its properties throughout the country, and its capable management team, said TRIS.
These strengths are partially offset by Major’s exposure to uncontrollable factors, such as the number of films released, attendance at film showings, the risk of increasing competition from the proliferation of entertainment alternatives and film piracy, the agency noted.