BTS Group and BTSC are rated “A” from TRIS Rating (TRIS) but revised the outlook to “negative” from “stable”. The negative outlook reflects the high probability of a significant rise in the Company’s financial leverage as a result of the potential investment in a new mass transit concession by Bangkok Mass Transit System PCL (BTSC), our subsidiary, which is subject to the cabinet approval.

BTS Group Holdings Public Company Limited

Credit Rating: A
Outlook: Negative

Debentures

BTSG Debenture: THB 7,000mn
Senior Unsecured Debenture
A / Negative
BTSG Debenture: THB 9,500mn
Senior Unsecured Debenture
A / Negative
BTSG Green Bond: THB 13,000mn
Senior Unsecured Green Bond
A / Negative
BTSG Green Bond: THB 8,600mn
Senior Unsecured Green Bond
A / Negative
BTSG Debenture: THB 13,000mn
Senior Unsecured Debenture
A / Negative

Bangkok Mass Transit System Public Company Limited

Credit Rating: A
Outlook: Negative

Debentures

BTSC Debenture: THB 22,000mn
Senior Unsecured Debenture
A / Negative
BTSC Debenture: THB 10,200mn
Senior Unsecured Green Bond
A / Negative