Fitch Ratings (
The proceeds will be used for debt repayment and working capital.
Key Rating Drivers
The senior unsecured debentures are rated at the same level as ASK's National Long-Term Rating as they represent the company's unsubordinated and unsecured obligations.
ASK's National Long-Term Rating reflects Fitch's expectation of extraordinary support from the ultimate controlling shareholder,
For details on ASK's key rating drivers and sensitivities, please see 'Fitch Assigns Asia Sermkij Leasing First-Time 'A(tha)' National Long-Term Rating; Outlook Stable', dated
Rating Sensitivities
Factors that could, individually or collectively, lead to negative rating action/downgrade:
Any negative action on ASK's National Long-Term Rating would result in similar rating action on its senior unsecured debt.
Factors that could, individually or collectively, lead to positive rating action/upgrade:
The rating on the senior unsecured bonds will be upgraded if ASK's National Long-Term Rating is upgraded.
Date of Relevant Committee
REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING
The principal sources of information used in the analysis are described in the Applicable Criteria.
Public Ratings with Credit Linkage to other ratings
ASK's National Ratings are linked to
RATING ACTIONS
Entity / Debt
Rating
senior unsecured
Natl LT
A(tha)
New Rating
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VIEW ADDITIONAL RATING DETAILS
Additional information is available on www.fitchratings.com
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