BTS Group and BTSC are rated “A-” from TRIS Rating (TRIS) with “stable” outlook. The rating reflects TRIS Rating’s expectation to BTS Group’s operating results will continue to improve due to an increase in revenue from Operating and Maintenance (O&M) services and a recovery in the advertising media business. In addition, the rating outlook reflects TRIS Rating's expectation that Bangkok Metropolitan Administration (BMA) will repay the outstanding receivables to the company in the imminent future.

BTS Group Holdings Public Company Limited

Credit Rating: A-
Outlook: Stable

Debentures

BTSG Debenture: THB 7,000mn
Senior unsecured debenture
A- / Stable
BTSG Debenture: THB 9,500mn
Senior unsecured debenture
A- / Stable
BTSG Green Bond: THB 13,000mn
Unsubordinated and unsecured Green Bond
A- / Stable
BTSG Green Bond: THB 8,600mn
Unsubordinated and unsecured Green Bond
A- / Stable
BTSG Debenture: THB 13,000mn
Senior unsecured Green Bond
A- / Stable
BTSG Sustainability-Linked Bonds: THB 11,000mn
Senior Unsecured SLB
A- / Stable
BTSG Sustainability-Linked Bonds: THB 20,000mn
Senior Unsecured SLB
A- / Stable
BTSG Debenture: THB 1,000mn
Senior Unsubordinated and Unsecured Debenture
A- / Stable
BTSG Debenture: THB 600mn
Unsubordinated and Unsecured Debenture
A- / Stable
BTSG Debenture: THB 15,057mn
Unsubordinated and Unsecured Debenture
A- / Stable

Bangkok Mass Transit System Public Company Limited

Credit Rating: A-
Outlook: Stable

Debentures

BTSC Debenture: THB 22,000mn
Senior unsecured debenture
A- / Stable
BTSC Debenture: THB 10,200mn
Senior unsecured debenture
A- / Stable