TRIS Places a "Negative CreditAlert" to ITD's Issues
Thai Rating and Information Services Co., Ltd. (TRIS) announced Friday 29 September 2000 that it has placed the rating of Italian-Thai Development PLC's (ITD) Bt3,500 million senior debentures due 2005 on CreditAlert with "Negative" implication, indicating that the rating may be lowered. The negative CreditAlert acknowledges the company's plan for debt restructuring that would affect interest payment on its Bt3,500 million senior debentures due on 10 October 2000.
TRIS will closely monitor the company's progress as it enters a debt restructuring process and developments concerning its business and financial status.
Italian-Thai Development PLC (ITD) CreditAlert Designation: Negative Current Issue Rating: ITD#1: Bt3,500 million senior debentures due 2005 BBB-
Note: TRIS issues "CreditAlert" as part of TRIS's monitoring process as a public warning when there is insufficient information to fully assess and reconsider a debt instrument's current rating or when significant events have occurred that may affect the company's rating already assigned by TRIS. CreditAlert designations may be "positive" or "negative" or "developing", depending on the likely impact of a particular situation. The existing rating continues unchanged for the present. Monitoring is done until the debt instrument matures or the company's rating contract expires.