Raja Ferry Port company rating put at ‘BB+’
TRIS Rating has affirmed the company rating of Raja Ferry Port PLC (RP) at “BB+”. The rating reflects RP’s entrenched business position in ferry operations from the Don Sak pier (Surat Thani province) to Koh Samui and to Koh Phangan with a track record of over 35 years.
However, the rating is constrained by the company’s small business scale, geographical concentration, concerns over the age of its existing ferry fleet, and the possibility of a significant rise in financial leverage from its fleet expansion plan.
