By The Nation
At the same time, TRIS Rating assigned the “A” rating to BTS’s proposed issue of up to Bt13 billion in senior unsecured debentures. The new issue rating replaces the issue rating previously assigned on May 15, 2019, following BTS’s request to increase the issue size to up to Bt13 billion, from Bt10 billion.
The proceeds from the new debentures will be used to repay existing debt.
The ratings reflect the company’s strong business profile based on the high predictability of the service income from the mass transit train operation, stable dividend income received from its 33.33 per cent investment in the BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF), and its entrenched position in the media business.