FITCH ‘BBB PLUS’ FOR IDR OF AWN
Fitch Ratings has assigned Thailand-based telecommunications company Advanced Wireless Network Co Ltd (AWN) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) of'BBB+'.
The Outlooks are Stable.
Ratings Equalised with Parent's: AWN's ratings are equalised with those of its parent Advanced Info Service Plc (AIS: BBB+/Stable), reflecting the strong links between the two companies, in line with Fitch's Parent and Subsidiary Rating Linkage criteria.
AIS fully owns AWN, enabling it to control AWN's strategy, financial policy and investments. AWN is the main subsidiary within the group, accounting for 97 per cent of group revenue and 85 per cent of EBITDA in 2017.
It is of strategic importance to its parent as the operator of AIS's licensed business. AWN was awarded 2.1GHz, 1.8GHz and 900MHz spectrum licences and won the auction for an additional 5MHz of 1.8GHz spectrum in August 2018.
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