from
S&P Credit Research3626 word report
published Dec 26, 2007
Price
$400.00 available for immediate download
Report Overview
Search Inside
About
S&P Credit Research
| Abstract: | Integrated and efficient operations. Favorable market position in Thailand. Geographical diversity with considerable export revenues. Highly leveraged, but improving, financial profile. Exposure to the volatile and cyclical price of pulp and paper products. Single site concentration. The rating on Thailand's integrated pulp and paper company Advance Agro Public Co. Ltd. (Advance Agro) is constrained by the following factors: Highly leveraged financial risk profile. Following its aggressive capital spending program, debt to EBITDA is projected to be about 4x in the near to medium term compared with 3.6x (annualized) as at Sept. 30, 2007. Funds from operations (FFO) to debt was an annualized 19% for the first nine months of 2007, compared with a 2004-2006 average of 18%. Nevertheless, this ratio
|
| Brief Excerpt: | RESEARCH Ratings Definitions Advance Agro Public Co. Ltd. Publication date: 26-Dec-2007 Primary Credit Analyst: Yasmin Wirjawan, Singapore (65) 6239-6302; yasmin_wirjawan@standardandpoors.com Secondary Credit Analyst: Anshukant Taneja,...
|
| Report Type: | Full Report
|
| Ticker: | AA@TB
|
| Issuer: | Advance Agro Public Co. Ltd.
|
| GICS: | Paper Products (15105020)
|
| Sector: | Global Issuers
|
| Country: | Thailand
|
| Region: | Emerging Markets
|
| Free Sample: |
Click Here to Download
|
| Format: | | HTML |  |
|
S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
