Fitch: DaimlerChrysler Thailand on positive watch

Fitch Ratings said it placed DaimlerChrysler (Thailand) Ltd.'s AA(tha) national long-term ratings on its THB2 billion guaranteed debentures due 2007, and its THB2.5 billion guaranteed debentures due 2009 on Rating Watch positive.

The actions follows DaimlerChrysler AG's BBB+ issuer default rating placement on Rating Watch positive. DaimlerChrysler Thailand's national rating is based entirely on the full, irrevocable and unconditional guarantee on the debentures by DaimlerChrysler AG.

The watch comes after news that the company will sell an 80.1% stake in its Chrysler unit. Fitch said this should strengthen the company's overall financial and credit profiles by significantly cutting its exposure to the troubled division.

© 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.