Fitch Ratings (Thailand), an affiliate of Fitch, has assigned its first national rating to Siam Pulp & Paper (SPP), a subsidiary of Siam Cement Group of Thailand (SCC).
SPP“s long term senior unsecu…
Fitch Ratings (Thailand), an affiliate of Fitch, has assigned its first national rating to Siam Pulp & Paper (SPP), a subsidiary of Siam Cement Group of Thailand (SCC). SPP“s long term senior unsecured rating is “A (tha)” and the short term national rating is “F1 (tha)”. These ratings refer to the company“s relative creditworthiness within Thailand. According to Fitch, healthy earnings in 2000 helped to consolidate SPP“s financial position following a difficult period in 1997 and 1998. However the agency expects earnings growth in 2001 to be constrained by weaker paper prices, a slowdown in economic recovery and continuing industry over-capacity.