THAI’s credit rating downgraded after court accepts rehab petition

By THE NATION

 

 

TRIS Rating has downgraded Thai Airways International (THAI), while the airline’s senior unsecured debentures have been given the “D” or “default” rating, the agency’s statement released today said.

 

The downgrade follows the Central Bankruptcy Court’s decision to accept THAI’s rehabilitation petition on May 27. Hence, all of THAI’s debt obligations have been put on an automatic standstill as per law.

 

TRIS Rating will reassess its credit rating for THAI as and when the company reaches an agreement with all stakeholders on the rehab plan.

 

Source: https://www.nationthailand.com/business/30388610?utm_source=category&utm_medium=internal_referral

 

-- © Copyright The Nation Thailand 2020-05-27

 

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3 minutes ago, snoop1130 said:

the rehab plan.

They have lost loads of money for their shareholders and investors through stupidity and greed, so if it doesn't involve getting rid of the majority of its incompetent and overpaid senior management it won't be a rehab plan, just another disaster waiting to happen again a few years down the track. 

Do we really expect this to be more than a rearrangement of deckchairs on the Titanic.

Who will be brave enough to remove the connected ones, only one person has that power.

Well what a surprise!

 

I am sure someone will get a serious talking to about this loss of face.

Hopefully now all airports will demand money up front for landing slots fromm a company with 'default' in their accounts

15 hours ago, PJPom said:

Do we really expect this to be more than a rearrangement of deckchairs on the Titanic.

Who will be brave enough to remove the connected ones, only one person has that power.

This is what happens when you try to run a professional airline like it's a personal select membership club, run by buffoons.

A bit like:

Q) what just happened?, A) we hit an ice berg, Q) how big was it, A)huge, whose at the helm now? A) same people... send up the flares ! 

Edited May 28, 20206 yr by hotchilli