- Language: English
- 70 Pages
- Published: June 2013
- Region: United Kingdom
Summary: True Move Co. Ltd. Jun 11
- Published: June 2011
- Standard & Poors
The rating on Thailand-based wireless service provider True Move Co. Ltd. reflects the company's high leverage, the intense competition in the wireless segment, and regulatory uncertainties. True Move's strategic importance to its parent, True Corp. Public Co. Ltd. (not rated), and its growing presence in the wireless market partly mitigate these risks. Despite True Move's deleveraging and cost-saving efforts, its cash flow measures remain weak, in our opinion. This is attributable to the company's significant debt burden and the pressure on its profitability. True Move's financial risk profile is highly leveraged. As of Dec. 31, 2010, the company's ratio of adjusted debt to EBITDA was 5.0x, funds from operations (FFO) to debt was 17%, and adjusted debt to capital was...
Companies mentioned in this report are: True Move Co. Ltd.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
True Move Co. Ltd.