Bangkok--2 Nov--Fitch Ratings
Fitch Ratings (Thailand) Limited says there will be no rating impact on Bangkok Mass Transit System Public Company Limited (BTSC, A(tha)/Stable) or on the 'A(tha)' rating on its debentures after the company increased the size of its senior unsecured bond issue to THB22bn from THB20bn.
The agency had previously factored in an issue size of THB30bn (including the greenshoe amount) for the bonds, and assigned them a rating of 'A(tha)', in line with BTSC's National Long-Term Rating, on 7 October 2016.
The bonds will be issued in four tranches due in 2019, 2021, 2023, and 2026. The proceeds will be used to fund BTSC's mass transit business capex and investments.
More information on the rating action may be found in the media release "Fitch Rates Bangkok Mass Transit System's Debentures at 'A(tha)'".