TRIS downgrades company rating of NMG to ‘D’
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TRIS Rating has downgraded the company rating of Nation Multimedia Group (NMG) to “D” and has removed its credit alert with a “negative” implication, according to its statement Wednesday.
The downgrade follows NMG’s failure to repay or roll over outstanding bills of exchange worth Bt100 million that came due Wednesday.
TRIS says it will reassess NMG’s credit rating if the company is able to fulfil its debt-repayment obligations in accordance with the borrowing agreements or if the lenders agree to amend the terms and conditions of NMG’s financial obligations.
