ThaiBev hammered by Standard & Poor's debt downgrade to junk status

On back of 'weaker credit characteristics'.

According to OSK, Thai Beverage shares were hit negatively yesterday closing 4.2% down at SGD0.455 in response to its debt being downgraded to junk status by rating agency Standard & Poor which cut its long term corporate credit rating on ThaiBev from BB+ to below investment grade with a stable outlook due to having a weaker credit characteristics. It will also withdraw all the ratings on ThaiBev at the company's request.

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