Moody’s slashes True’s family rating

We’ve longed wondered how long this will take, and now with their upcoming IFF which has the funniest terms you’ll ever read for a fund, what rate would investors be willing to pay? Plus I still think the company is worth less than 0 baht/share

Moody’s Investors Service has downgraded the corporate family rating of True Corporation and the corporate family and senior unsecured bond ratings of its consolidated subsidiary True Move to B3 from B2.

Moody’s also placed all ratings under review for further downgrades.

“The move reflects the prolonged character of True Corporation’s negative free cash flow (FCF) due to weak earnings from the mobile business and a high level of capital expenditures. As a result, we expect its financial and liquidity profiles to remain under pressure in the coming 12-18 months,” said Yoshio Takahashi, a Moody’s assistant vice-president.

 Source: Bangkok Post

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