Fitch gives Global Power A+ rating
Fitch Ratings in Thailand has placed Global Power Synergy Public Company Limited's (GPSC) National Long-Term Rating and senior unsecured rating of "A+(tha)" on Rating Watch Negative (RWN).
This follows the June 20 announcement that GPSC will acquire 69 per cent of the total issued shares of Glow Energy Public Company Limited and will submit a tender offer for the remaining shares for Bt141.2 billion. The acquisition will be initially funded by Bt142.5 billion in bridging facilities, which will mature in one year from the deal's completion.
The acquisition and bridge loan refinancing is subject to various approvals, including by the GPSC shareholders and regulatory authorities.
