Fitch gives Erawan BBB(tha) national long-term rating

Fitch Ratings said it assigned the senior unsecured debt of the Erawan Group plc a BBB(tha) national long-term rating and a F3(tha) national short-term rating.

The outlook is stable.

The ratings reflect the Thai company's high-quality assets, strong brand recognition and established relationship with leading international hotel chains Hyatt and Marriott, the agency said.

Fitch said the ratings also incorporate Erawan's existing low product and geographic diversification and an expected increase in competition in Bangkok's hotel sector.

This concern, however, should be alleviated through the company's geographical and segmental expansion plans to be completed in 2007.

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