Page 42 - Silom Complex Building News Today : Breaking News, Live Updates & Top Stories | Vimarsana

TRIS Rating affirms the company rating on Jaymart PLC (JMART) at "BBB" and affirms the company's issue ratings

TRIS Rating affirms the company rating on Singer Thailand PLC (SINGER) at "BBB ". At the same time, the rating

TRIS Rating views that the ruling of the Central Administrative Court to revoke the building permit of the Ashton Asoke project will not have an immediate impact on the credit ratings assigned to Ananda Development PLC (ANAN). TRIS Rating assigned the ratings to ANAN and its senior unsecured debentures at ?BBB-? with a ?stable? outlook, and to its subordinated capital debentures (hybrid debentures) at ?BB?. The remaining unsold units of the Ashton Asoke project was worth only THB0.8 billion at the time of the ruling, out of the total project value of THB6.5 billion. ANAN holds 51% equity in...

TRIS Rating affirms the company rating on East Coast Furnitech PLC (ECF) at ?BB+? and, at the same time, revises the rating outlook to ?stable? from ?negative?. The ?stable? outlook reflects ECF?s rising furniture sales which benefit from the stay-at-home trend due to the Coronavirus Disease 2019 (COVID-19) pandemic and easing pressure of its financial leverage following the divestment of its biomass power plants. The ?BB+? rating continues to reflect ECF?s adequate competitive strength in the furniture market and established distribution channels through modern-trade retailers in Thailand an...

TRIS Rating downgrades the company rating on Central Plaza Hotel PLC (CENTEL) and the ratings on its existing senior unsecured debentures to ?A-? from ?A?. The rating action follows our view that the escalating Coronavirus 2019 disease (COVID-19) situation in Thailand compounded by a weak economic outlook will likely result in slower-than-expected business recovery for CENTEL and a drawn-out timeline for the company to restore its financial strength. We expect CENTEL?s leverage ratio as measured by the ratio of adjusted debt to earnings before interest, tax, depreciation, and amortization (EB...