THAI’s credit rating downgraded after court accepts rehab petition
TRIS Rating has downgraded Thai Airways International (THAI), while the airline’s senior unsecured debentures have been given the “D” or “default” rating, the agency’s statement released today said.
The downgrade follows the Central Bankruptcy Court’s decision to accept THAI’s rehabilitation petition on May 27. Hence, all of THAI’s debt obligations have been put on an automatic standstill as per law.
TRIS Rating will reassess its credit rating for THAI as and when the company reaches an agreement with all stakeholders on the rehab plan.
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