Fitch Affirms Siam City Cement at ‘A(tha)’, Outlook Stable
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Fitch Ratings (Thailand) has affirmed Siam City Cement Pfc’s National Long-Term Rating at “A(tha)”, senior unsecured rating at “A(tha)” and National Short-Term Rating at “F1(tha)”.
The ratings have been removed from Rating Watch Negative. The outlook is stable.
The rating action reflects Fitch’s expectation that SCCC will maintain its financial leverage consistent with an A(tha) rating over the medium term, after the capital injection of Bt17 billion planned for next quarter has been completed.
Fitch has factored in this capital injection as it believes SCCC’s major shareholders have a strong commitment to support the planned capital-raising.
The capital increase represents the company’s commitment to maintain low leverage, despite aggressive expansion.
