The Thai branch of rating agency Fitch Ratings has assigned a long-term national rating of `A- with a stable outlook to AEON Thana Sinsap's THB1bn three-year unsecured debentures maturing in 2005.
AEONTS is an affiliate of AEON Credit Service of Japan, which holds a 23% stake in AEONTS.
It has established a strong brand within the Thai consumer finance business by focusing on service and product quality. It cross-sells and distributes its products via 3500 small retail dealers, large discount and department stores.
The agency said: "The ratings are underpinned by AEONTS's strong credit control and collections and also reflect the company's leading position in its key markets, strong turnover growth and high profitability in its retail finance business."
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