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TRIS downbeat on NWR bonds, outlook
Corporate June 30, 2018 01:00
By The Nation
TRIS Rating affirms the company rating of Nawarat Patanakarn Plc (NWR) and the ratings of NWR’s outstanding senior unsecured debentures at “BBB-” with the “negative” outlook.
The “negative” outlook reflects concerns over the lingering high level of leverage. In addition, the size of the project backlog and the recent operating performance of NWR are both below expectations.