TRIS Rating Affirms Company Rating on "NWR" at "BB " with "Stable"
TRIS Rating affirms the company rating on Nawarat Patanakarn PLC (NWR) at ?BB+? with a ?stable? rating outlook. The rating reflects the company?s track record of undertaking a broad range of construction projects for the public and private sectors, its sizable backlog, as well as a promising outlook for public-sector construction work in the near-to-intermediate term. However, the rating is held back by the company?s weak profitability, and low cashflow protection against financial leverage. KEY RATING CONSIDERATIONS Track record in a broad range of works NWR is the sixth largest contractor l...
Source: ryt9.com