S&P lifts Ratchaburi

Standard & Poor's said it raised the long-term corporate credit rating on Ratchaburi Electricity Generating Holding Public Co. Ltd. to BBB+ from BBB.

The outlook is stable.

The upgrade reflects the improvement in the standalone credit profile of Electricity Generating Authority of Thailand (BBB+/stable) to bbb from bbb-, which is based on the strong relationship between the two issuers, according to the agency.

"The rating on RATCH continues to reflect the company's good market position, stable operating performance and conservative financial policy," S&P analyst Mehul Sukkawala said in a statement.

"It also reflects RATCH's lack of diversity and increasing country and macroeconomic risk associated with the rising exposure to operations and investments in Laos (not rated)."

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