Fitch cuts Bangkok Aviation Fuel Services

Fitch Ratings said it downgraded Bangkok Aviation Fuel Services PCL’s national long-term rating to A(tha) from A+(tha).

“The downgrade reflects Fitch’s expectation that BAFS’s financial profile will be weaker than previously expected. We now expect BAFS’s FFO adjusted net leverage to remain above 2.5x over the next three to four years,” said Fitch in a press release.

The outlook is stable.

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