Fitch rates Siam Cement notes A+(tha)

Fitch Ratings said it assigned the Siam Cement PCL's planned Thai baht 25 billion unsecured and unsubordinated debentures due 2025 an A+(tha) national long-term rating.

The debentures are rated at the same level as Siam Cement's national long-term rating, as they constitute its direct, unsecured, unconditional and unsubordinated obligations and because SCC has limited secured and prior-ranking debt, Fitch said.

The proceeds will be used to refinance maturing debentures No.3/2560 due in October.

The outlook is stable.

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