Fitch views SCG Packaging negatively

Fitch Ratings said it revised the outlook on SCG Packaging PCL to negative from stable and affirmed the A+(tha) ratings on the company, its Thai Baht 40 billion medium-term note program and its senior unsecured rating.

“The rating action follows the outlook revision on SCGP's parent, the Siam Cement PCL (SCC) to negative from stable, and the affirmation of SCC's A+(tha) national long-term rating. SCGP's ratings are equalized with that of its stronger parent under Fitch's parent and subsidiary linkage (PSL) rating criteria. The negative outlook reflects deleveraging challenges faced by SCC over the next 12-18 months,” Fitch said in a press release.

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