Bangkok--Feb 6--TRIS
Thai Rating and Information Services (TRIS) announced Friday, 6
February 1998 in a CreditUpdate that it changed the rating of Property
Perfect PLC's PERFEC#1 to "D" from "Suspended". The change is based on
the company's default on its initial arrangements for this debt
instrument.
TRIS will keep the "D" rating for three working days after this
announcement, and then replace it with a "Restructured" designation. TRIS
will monitor developments of the restructured transactions.
Note: Property Perfect PLC (PERFEC) TRIS's rating
PERFEC#1: 1,800 mb sr debs due 1999 D
PERFEC#2: 1,500 mb sr debs due 1998 Restructured
"CreditUpdate" reviews ratings of companies or debt issues that have
already been rated by TRIS. 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
update includes information to supplement the previously published
ratings. End.
Thai Rating and Information Services (TRIS) announced Friday, 6
February 1998 in a CreditUpdate that it changed the rating of Property
Perfect PLC's PERFEC#1 to "D" from "Suspended". The change is based on
the company's default on its initial arrangements for this debt
instrument.
TRIS will keep the "D" rating for three working days after this
announcement, and then replace it with a "Restructured" designation. TRIS
will monitor developments of the restructured transactions.
Note: Property Perfect PLC (PERFEC) TRIS's rating
PERFEC#1: 1,800 mb sr debs due 1999 D
PERFEC#2: 1,500 mb sr debs due 1998 Restructured
"CreditUpdate" reviews ratings of companies or debt issues that have
already been rated by TRIS. 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
update includes information to supplement the previously published
ratings. End.