Fitch rates MBK notes A-(tha)

Fitch Ratings said it assigned a national long-term rating of A-(tha) to MBK plc's up to Thai baht 3 billion senior unsecured debentures No. 1/2007 due 2010. The proceeds from the debentures will be used for business expansion.

The ratings are based on MBK's strong market position in the shopping plaza and hotel businesses in Bangkok, the relatively strong and stable cashflow generated from the MBK Center and the expected earnings growth from new investments, Fitch said.

The ratings also take into account MBK's relatively strong financial position. Despite its high level of short term debt, MBK's liquidity should remain manageable, supported by its cash on hand, strong and stable cashflows and access to the local debt capital market, the agency said.

© 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.