TRIS Initiates "National Scale Rating" for Investors to Assess a More Accurate Risk of Baht Bonds
TRIS is adopting a National Scale Rating system and is reassigning ratings to entities and debentures that previously had been constrained by the sovereign limit. Under the national scale rating system, the highest credit worthiness in the country is rated AAA.
Dr. Warapatr Todhanakasem, Thai Rating and Information Services Co., Ltd.'s (TRIS) President, said on Monday 24 July 2000, that the transition from an international scale rating system reflects TRIS's exclusive focus on company and issue ratings in local currency. The ratings are relevant only when comparing entities and debenture issues within the domestic market.
TRIS has reviewed the ratings of government-related entities and their issues and has reassigned ratings that reflect both their stand-alone credit worthiness and the degrees of their relationship with and financial support from the government. The ratings of non-government entities and their issues have also been reviewed based on the degrees by which their previous ratings had been constrained under the international scale. These ratings will be announced and take effect from 25 July 2000.