Fitch: Easy Buy bonds AA(tha)

Fitch Ratings said it assigned a national long-term rating of AA(tha) to Easy Buy PCL’s senior unsecured bonds.

The bonds will have maturities of up to five years and the total issue size will be up to 4 billion in Thai baht.

The proceeds will be used for general corporate purposes and refinancing, Fitch said.

The bonds are rated at the same level as the consumer financing company’s national long-term rating of AA(tha), the agency said.

The ratings reflect an expectation of a high probability of institutional support for the company from its Japanese parent, ACOM Co., Ltd., Fitch said.

The agency said it believes Easy Buy is a strategically important subsidiary of ACOM, as reflected in ACOM’s 71% majority ownership and full management control.

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