Fitch gives Krungthai XSpring notes AA-

Fitch Ratings said it gave an AA-(tha) national long-term rating to Krungthai XSpring Securities Co. Ltd.'s senior unsecured notes of up to 1 billion baht. The notes will have a tenor of one and a half years.

“The senior unsecured notes are rated at the same level as KTX's National Long-Term Ratings, as they constitute the issuer's unsecured and unsubordinated obligations,” Fitch said in a statement.

The notes will be sold under the 2021 medium-term note program and the proceeds will be used for debt repayment and working capital.

The outlook is stable.

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