MINT securities get BBB+ rating

Corporate December 07, 2018 15:53

By The Nation

Fitch Ratings has assigned Minor International's (MINT) USD300 million (Bt15.8 billion) guaranteed senior perpetual capital securities a final rating of BBB+.



The final rating is in line with the expected rating assigned on 23 November 23, 2018, and follows the receipt of final documents conforming to information already received and a signed certificate of authentication.

The notes are rated at the same level as the Long-Term Issuer Default Rating (IDR) of the guarantor, Bangkok Bank Public Company Limited (BBL; BBB+/Stable), to reflect the credit enhancement provided to investors by the unconditional and irrevocable guarantee from BBL, acting through its Singapore branch. The guarantee ranks pari pasu with BBL's unsecured and unsubordinated obligations.