TRIS Rating has downgraded the company rating of Nation Multimedia Group PLC (NMG) to “D” and has removed the CreditAlert with a “negative” implication. The downgrade follows NMG's failure to repay or roll over outstanding bills of exchange worth Bt100 million which came due on 12 October 2016.
TRIS Rating will reassess NMG's credit rating if the company is able to fulfill its debt repayment obligations in accordance with the borrowing agreements or if the lenders agree to amend the terms and conditions of NMG’s financial obligations.
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