Fitch affirms Asian Property Development

Fitch Ratings said it affirmed Asian Property Development plc's national long-term rating at BBB(tha) and national short-term rating at F3(tha).

The outlook is stable.

The ratings reflect the company's strong brand recognition, expertise and solid market position in Bangkok's inner-city townhouse segment, along with its strengthened position in the condominium segment, Fitch said.

The ratings also take into account the planned land acquisitions and the construction of new projects that could result in an increase in the company's net debt over the next two years, the agency said.

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