Fitch assigns DAOL debentures BB(tha)

Fitch Ratings said it assigned a BB(tha) national long-term rating to DAOL Securities (Thailand) PCL's upcoming issue of subordinated unsecured debentures. The debentures have a maturity of one year and six months.

“Fitch rates Daolsec's subordinated debentures one notch below the firm's national long-term rating. This reflects the debentures' higher loss-severity risk relative to senior unsecured instruments, in line with Fitch's corporate hybrids treatment and notching criteria,” the agency said in a statement.

The outlook is stable.

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