Bangkok--24 Jun--Aziam Burson-Marsteller
KRUNGSRI AUTO, a leading automotive financial solutions provider, has recently issued three billion baht in senior debentures. The company was also given an A+ credit rating from TRIS Rating for KRUNGSRI AUTO and its senior debentures. The company reported 62% growth in new loans and NEAs of 135 billion baht in the first five months of 2011.
Pairote Cheunkrut, Managing Director, Ayudhya Capital Auto Lease plc., or KRUNGSRI AUTO, stated, “TRIS Rating has assigned an A+ rating to KRUNGSRI AUTO and its senior debentures. The company’s newly issued senior debentures of up to three billion baht have also been given the A+ rating.”
The A+ credit rating reflects the company’s strong financial status and its high growth potential. TRIS Rating stated that the rating assigned to KRUNGSRI AUTO was attributable to its strong marketing in terms of auto and motorcycle hire purchase, its highly experienced management team with a proven track record and its good risk management solutions.
TRIS Rating added that KRUNGSRI AUTO’s business direction continues to closely align with the business strategy of KRUNGSRI Group, the parent company of KRUNGSRI AUTO and the company continues to receive strong support from KRUNGSRI Group. The rating also reflects the ability of the company’s management team to sustain its strong market position in auto and motorcycle loans. TRIS Rating sees positive factors including highly qualified management, a good risk management system, strong support from KRUNGSRI Group and the company’s 20 years of experience will help KRUNGSRI AUTO to maintain good quality assets and continually improve its financial performance.
KRUNGSRI AUTO has issued 3 billion baht in senior debentures for future investment and business expansion. The gains generated from the sale of these securities will be used in part as working capital to support ongoing operations.
The company’s performance is expected to grow consistently and KRUNGSRI AUTO anticipates higher performance in Q2/2011 than Q1/2011. In the first five months of the year, its NEAs grew 30% to 135 billion baht and its new loans increased 62% to 42 billion baht, compared with the same period in 2010.
For further information, please contact:
Ayudhya Capital Auto Lease plc
Thitipa Laxanaphisuth, Tel. 0-2708-8130 Email:
[email protected]
Aziam Burson-MarstellerTel. 0-2252-9871
Email:
[email protected]