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Fitch rates Thai ORIX bonds AAA
Fitch Ratings said it assigned Thai ORIX Leasing Co., Ltd.'s (TOLC) upcoming guaranteed bonds an expected AAA(tha) national long-term rating.
“The expected national long-term rating on the guaranteed bond is based entirely on irrevocable and unconditional guarantees provided by TOLC's parent, Japan-based ORIX Corp. (ORIX; A-/Stable). ORIX's long-term foreign-currency issuer default rating (IDR) of A- is higher than Thailand's long-term local-currency IDR of BBB+/stable, and correlates to the highest rating on the national scale of AAA(tha),” the agency said in a press release.
The outlook is stable.
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