Thailand: TRIS Rating assigns new issue rating of TRUE at BBB/Stable.

Section: Rating - TRIS Rating Co., Ltd. has affirmed the company rating of True Corporation PLC (TRUE) and the ratings of TRUE's senior secured debentures at BBB. TRIS Rating has also affirmed the rating of TRUE's senior secured debentures, partially guaranteed by the International Finance Corporation (IFC), at A. At the same time, TRIS Rating has assigned the rating of BBB to TRUE's proposed issue of up to Bt7,750 million in senior secured debentures. The rating outlook remains stable. The new issue rating replaces the BBB rating previously assigned by TRIS Rating on 19 November 2008 for the debentures of up to Bt6,750 million due within 2014 as TRUE decided to increase the issue size by Bt1,000 million. The upsizing will not affect the ratings and outlook of the company as the entire proceeds from the proposed debentures will be used to early redeem the TRUE112A debentures and to repay the TRUE097A debentures, resulting in no additional debt outstanding. This is to partially reduce …