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Advanced Info Service Public Co. Ltd. Oct 11
Standard & Poors, Oct 2011
Abstract
Favorable market position Strong cash flows Low leverage Competitive environment Regulatory uncertainties The rating on Thailand-based telecom operator Advanced Info Service Public Co. Ltd. (AIS) reflects the company's favorable market position, strong cash flows, and low debt. Thailand's competitive telecom market and the country's evolving regulatory framework temper these strengths. As the national incumbent, AIS has a clear lead over its domestic competitors, earning about half of Thailand's mobile telecommunication industry's revenues. As of March 31, 2011, AIS' share of the subscriber identity module (SIM) card market was 44%. The market share has been stable since the last quarter of 2008. AIS' 32.5 million customer base has been growing at an average 8.1% for the past five quarters. The introduction...
Companies mentioned in this report are: Advanced Info Service Public Co. Ltd.
Action: Review
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: Full Analysis
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