...Fully Guaranteed by Daimler: The ratings of Mercedes-Benz (Thailand) Limited's (MBTh) guaranteed medium-term debentures programmes are based entirely on the full, irrevocable, and unconditional guarantee provided by its parent, Daimler AG (A-/Stable). Daimler's Long-Term Foreign-Currency IDR of `A-' is higher than Thailand's sovereign Long- Term Local-Currency IDR of `BBB+'. As a result, the National Rating of the guaranteed medium-term debenture programmes are capped at Thailand's National Rating of `AAA(tha)'. Strong Relationship with Daimler: MBTh is 99.99%-owned by Daimler, with which it has strong operational and financial links. MBTh imports both completely built-up vehicles and completely knocked-down kits from Daimler for local assembly and distribution. MBTh is also closely monitored by Daimler's regional treasury centre, and strictly implements the group's treasury policy. Luxury Car Leader: MBTh is one of Thailand's premium-car market leaders, with a continually improving market...
