Fitch assigns Risland (Thailand) debentures AA(tha)

Fitch Ratings (Thailand) said it assigned residential property developer Risland (Thailand) Co. Ltd.'s proposed guaranteed debentures of up to THB 3 billion due no later than 2024 a national long-term rating of AA(tha).

The outlook is stable.

Risland will use the proceeds from the bond issuance to repay loans, as well as for working capital and liquidity management, Fitch said.

The rating on the proposed guaranteed debentures reflects the credit enhancement provided to investors by the full, unconditional and irrevocable guarantee by Risland’s parent, Country Garden Holdings Co. Ltd. (BBB-/stable), Fitch said. The guarantee ranks at least pari passu with Country Garden's unsecured and unsubordinated obligations.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.