TRIS Cancels IEC's Convertible Debentures
Thai Rating and Information Services Co., Ltd. (TRIS) announced in a CreditUpdate Friday 19 May 2000 that it has cancelled the rating it assigned to the International Engineering PLC's (IEC) Bt1,200 million senior convertible debentures since the issue has reached its maturity date.
TRIS will no longer monitor IEC's credit rating, and the rating assigned previously cannot be used as a reference.
Note: "CreditUpdate" reviews ratings of companies or debt issues that have already been rated by TRIS. The CreditUpdate occurs when new debt instruments are issued or if significant events have taken place that may impact a company's current ratings or when current ratings are cancelled. The CreditUpdate announces whether a rating has been "upgraded," "downgraded," "affirmed" or "cancelled." The update includes information to supplement the previously published ratings.
CreditUpdates are part of TRIS's monitoring process. TRIS monitors every rating it assigns until either the debt instrument matures or the rating contract ends. To keep the public informed of changing situations, TRIS periodically issues announcements about the credit ratings it monitors.