Fitch rates SCGJWD debentures BBB+

Fitch Ratings said it assigned SCGJWD Logistics PCL planned senior unsecured debentures of up to 4 billion baht a BBB+(tha) national long-term rating.

“The proposed debentures are rated at the same level as SCGJWD's national long-term rating because they represent unconditional, unsecured and unsubordinated obligations of the company. Fitch believes the notes' structural subordination is not material due to limited prior-ranking debt,” Fitch said in a press release.

The proceeds will be used as working capital, to refinance debt and to fund capex.

The outlook is stable.

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