Bangkok--6 Oct--Fitch Ratings
Fitch Ratings (Thailand) Limited has today assigned final ‘AA+(tha)’ National Long-term rating to Mercedes-Benz (Thailand) Limited’s (MBTh) THB2.0bn debentures due 2012. The Outlook is Positive. The debentures are guaranteed by MBTh’s parent, Daimler AG (Daimler; Long-term Issuer Default Rating (IDR): ‘BBB+’/Positive).
The rating action follows the completion of the debentures issue and receipt of documents conforming to information previously received. The final rating is the same as the expected rating assigned on 21 September 2010.
MBTh is 99.99% owned by Daimler. Since 2000, MBTh has been responsible for the import and wholesale functions of Mercedes-Benz vehicles for distribution in Thailand. MBTh also provides hire-purchase and leasing services through its wholly-owned leasing subsidiary, Mercedes-Benz Leasing (Thailand) Company Limited.
Contacts:
Primary Analyst
Ekapan Prompraphant
Analyst
+66 2655 4753
Fitch Ratings (Thailand) Limited
Wave Place 13th Fl.
Wireless Road, Lumpini, Patumwan
Bangkok 10330, Thailand
Secondary Analyst
Lertchai Kochareonrattanakul
Senior Director
+66 2655 4760
Committee Chairperson
Jeong Min Pak
Senior Director
+822 3278 8360