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Byline: Nuntawun Polkuamdee
Feb. 3--Bonds of Acumen Co will be delisted from the Thai Bond Dealing Centre after Tris Rating announced it was cancelling its rating of the bonds, citing a lack of information.
Acumen, a subsidiary of telecommunications firm Jasmine International, in 1999 issued five-year senior secured debentures worth 3.5 billion baht with a coupon rate of 8.125 percent.
Tris' action, a first since the 1997-98 economic crisis, was taken after Acumen failed to offer information updates for at least 12 months. Tris had previously rated the bonds BBB+.
One Acumen executive said that the remaining debt on the debentures ...
Source: HighBeam Research, Thai Firm Loses Bond Centre Listing after Credit Agency Cancels...