Fitch gives Navanakorn debentures A-(tha)

Fitch Ratings said it assigned Navanakorn Electricity Generating Co. Ltd.'s (A-(tha)/stable) upcoming 6.4 billion baht of senior unsecured amortizing debentures a national long-term rating of A-(tha).

Proceeds will be used to refinance bank loans and support the company’s expansion plans.

The debentures are rated at the same level as the national long-term rating based on an expectation that the company will use the proceeds to repay all its bank project loans and release all its security pledges, Fitch said.

All of the company’s debt will be senior unsecured after the debenture issuance, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.