S&P Global Ratings acquires 49% of TRIS Rating

S&P Global Ratings is the world’s leading provider of independent credit-risk research, while TRIS is Thailand’s leading credit-rating agency.
Earlier TRIS Corp owned 100 per cent of TRIS Rating. After this deal, it holds 51 per cent, and S&P Global Ratings the rest.
Matt Bosrock, global head of developing markets at S&P Global Ratings, said TRIS Rating was a well-run company with an exceptional track record.
“Our equity investment underscores S&P Global Ratings’ confidence in TRIS Rating’s capabilities and our optimism about the future of Thailand’s capital markets. Through this investment, we look forward to increasing our ratings offerings and strengthening our analytical and research capabilities in the Thai and Asean markets,” he said.
The transaction significantly extends an existing partnership between the two companies and deepens their commitment to capital markets in Thailand, Asean’s second-largest economy and third-largest bond market, said the US-based company.
Elena Okorochenko, managing director and head of South and Southeast Asia at S&P Global Ratings, said S&P continued to look for opportunities to seek new partnerships with rating agencies in Asian countries.
Siri Ganjarerndee, TRIS Rating director, said the relationship with S&P Global Ratings would help the Thai company accelerate and broaden its range of services to customers in Thailand’s growing capital markets. At the same time, S&P Global Ratings can leverage TRIS Rating’s in-depth knowledge and understanding of Thailand and neighbouring countries.
“Strengthening rating capability is key to supporting the development of Thailand’s bond market to enable it to become a centre for the region,” he said.
“Thailand’s capital market has already attracted foreign issuers from neighbouring countries because of a large investor base and appealing interest rates. TRIS Rating’s cooperation with S&P Global Ratings will boost our ability to respond to one of the fastest-growing bond markets in the region.”
S&P Global Ratings has been associated with TRIS Rating since 1993 when it provided it with technical assistance to develop its credit-rating methodology. In late 2011, S&P Global Ratings purchased a 5-per-cent equity stake in TRIS Corp and later signed a relationship agreement that enabled the two companies to co-host seminars and undertake training sessions and joint research.
In a separate matter, Siri said the Thai economy had bottomed out and was expected to experience a turnaround by the end of this year. He added that state spending had begun to bear fruit in the economy but the country still needed more private-sector investment to boost the economy further.