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Published on 7/21/2011 in the Prospect News Emerging Markets Daily.

Fitch affirms Siam Future

Fitch Ratings said it affirmed Siam Future Development PCL's national long-term ratings at BBB(tha), short-term rating at F3(tha) and the national long-term rating on its outstanding senior unsecured debentures at BBB(tha).

The outlook is stable.

The ratings reflect the company's strong market position as Thailand's leading developer of medium-sized open-air shopping centers under a community mall concept, Fitch said.

The ratings also reflect its strong recurring rental and service income, which has continued to grow even in the years with no increase in gross leasable area, the agency said.


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