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
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Research type: News
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