Fitch lifts Aeon Thana Sinsap

Fitch Ratings said it upgraded Aeon Thana Sinsap (Thailand) PCL's national long-term rating to A-(tha) from BBB+(tha).

The company’s national short-term rating was affirmed at F2(tha).

The outlook is stable.

The upgrade reflects the company’s ability to successfully sustain financial metrics generally superior to those in 2011 through 2012, Fitch said, despite the weak operating environment.

The national ratings are driven by its standalone profile, which is underpinned by its position as one of the leading non-bank players in Thailand's unsecured consumer-loan sector, the agency said.

The company has a long-standing franchise in credit cards and personal loans and operates an extensive network of 120 branches nationwide, Fitch said.

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