Fitch affirms Property Perfect

Fitch Ratings said it affirmed Property Perfect PCL's 520 million in Thai baht three-year senior secured debentures, with partial guarantee provided by Siam City Bank PCL.

The outlook is stable.

The debentures are secured by freehold land with an average appraisal value of 884 million in Thai baht, representing a value-to-loan ratio of 170%, Fitch said.

The rating reflects the partial bank guarantee of the company's debentures, as its standalone financial strength remains relatively weak, 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.