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Fitch lowers ThaiBev's outlook to 'negative' from 'stable'

This reflects a slower than expected pace of deleveraging following a series of acquisitions

Published Thu, Apr 11, 2019 · 09:50 PM
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Singapore

CREDIT ratings agency Fitch Ratings has lowered its outlook for Thai Beverage to "negative" from "stable", reflecting a slower than expected pace of deleveraging following a series of acquisitions that raised its debt for the first quarter of fiscal 2018.

ThaiBev acquired Saigon Beer-Alcohol-Beverage Corporation (Sabeco) in Vietnam, the Grand Royal Group in Myanmar and 252 KFC outlets in Thailand.

Fitch attributed the slower than forecast deleveragi…

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