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IRPC Public Co. Ltd.'s Proposed US$250 Million Notes Rated 'BBB-' May 07
Standard & Poors, May 2007
SINGAPORE (Standard & Poor's) May 25, 2007--Standard & Poor's Ratings Services today assigned its 'BBB-' issue rating to a proposed issue of US$250 million 10-year fixed-rate notes due 2017 by Thailand's IRPC Public Co. Ltd. (BBB-/Stable/--). The proposed notes will be direct, unconditional, unsecured, and unsubordinated general obligations of IRPC Public Co. Ltd. The net proceeds of the proposed notes will be used for repayment of a bridge loan that is due September 2007. The corporate credit rating reflects IRPC's small scale of operation with single-site risk, large capital expenditure with moderate increase in production capacity, relatively weaker financial risk profile, and inherent industry risk. The corporate credit rating on IRPC benefits from ownership by PTT and other state-institution strategic...
Companies mentioned in this report are: IRPC Public Co. Ltd.
Action: New Rating
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
IRPC Public Co. Ltd.