S&P rates Thai Beverage BBB

Standard & Poor's said it assigned a BBB long-term corporate credit rating to Thai Beverage PCL.

The outlook is stable.

The agency said the rating reflects Thai Beverage's dominant market position in the Thai beer and spirits market, its improved product portfolio and its satisfactory financial profile.

The rating also reflects the company's high dependence on a few key beer and spirit brands, its strong focus on the low-price segment, the challenge to widen brand coverage in standard and premium segments, concentration of the company's business in the Thai market and its vulnerability to regulatory changes, S&P said.

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