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Fitch Thailand assigns expected national ratings to Canadoil Asia's secured bonds.
(From Thai Press Reports)
Section: Corporate News - Fitch Ratings (Thailand) Limited has assigned expected National Long-term ratings of 'BBB(tha)' to Canadoil Asia's ("CASIA") THB300 million secured debentures due March 2008 and THB700m secured debentures due May 2010. The expected ratings reflect CASIA's creditworthiness, which is enhanced by mortgages over land, building and machinery, and negative pledge of other assets except for normal trading activities. CASIA pledges to maintain a minimum collateral value-to-loan ratio of 120%. CASIA's creditworthiness is based on the company's strong market niche in manufacturing heavy-duty large-diameter pipe fittings in …
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- Fitch Thailand assigns final national ratings to Canadoil Asia's secured bonds.
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