Fitch puts JWD InfoLogistics on positive watch

Fitch Ratings said it placed JWD InfoLogistics PCL’s BB+(tha) national long-term rating on rating watch positive.

This placement follows JWD's announcement of its merger with SCG Logistics Management Co. Ltd., a subsidiary of Siam Cement PCL group, by share swaps, Fitch said.

“The RWP reflects Fitch's view that JWD's credit profile should be stronger after the merger. The rating watch will be resolved once major conditions precedent to the transaction are met and more details on post-merger business strategy and financial projections are available,” the agency said in a press release.

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