Fitch rates Primus Leasing notes AA+(tha)

Fitch Ratings (Thailand) said it assigned a national rating of AA+(tha) to Primus Leasing Co. Ltd.'s Thai baht 500 million two-year guaranteed notes and Thai baht 1 billion three-year guaranteed notes issued under the company's medium-term note program.

At the same time, the agency also affirmed the national ratings of Primus' guaranteed notes under the previous MTN programs and the guaranteed bills of exchange at AA+(tha).

Fitch said the national ratings are based on the full, irrevocable and unconditional guarantee by Ford Motor Credit Co. and the creditworthiness of Primus' parents, Ford Motor Co. and Ford Credit, which are rated BBB+ with a stable outlook on the international scale.

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