Bangkok--5 Aug--Fitch Ratings
Positive rating actions increased in 2010 for Fitch Thailand National Ratings, according to the agency’s new study of the migration of Thailand National Ratings in 2010, and over the past nine years.
Fitch upgraded eight nationally-rated corporate finance issuers (comprising corporates, banks and non-bank financial institutions) in 2010 compared with none in the previous year. The agency downgraded two corporate finance issuers in 2010, down from three in 2009. In the structured finance sector, two nationally-rated bonds received upgrades in 2010, compared with none in 2009.
The study highlights there have been no defaults to date in Fitch’s National Rating universe in Thailand.
The study includes all publicly rated long-term corporate finance issuers since Fitch began assigning National Ratings in Thailand in 2001. Separately, the report provides transition rates for structured finance transactions.
At end-2010, Fitch Thailand maintained 39 National Ratings on corporate finance issuers and eight on structured finance bonds.
Fitch’s report provides data and analysis on the performance of the agency’s National Ratings in 2010 and over the long term, capturing the period 2002 to 2010.
The report, ‘Fitch Thailand National Ratings 2010 Transition Study’ is available on Fitch’s web site under Credit Market Research or by clicking on the above link.