NR Instant Produce Plc (NRF), the producer and distributor of vegetarian and plant-based food, plans to acquire a grocery and cash and carry store in London in the first half of this year as it completes its trading ecosystem from downstream to upstream.
TRIS Rating Affirms Company & Senior Unsecured Debt Ratings on DUSIT at ryt9.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ryt9.com Daily Mail and Mail on Sunday newspapers.
TRIS Rating affirms the company rating on Dusit Thani PLC (DTC) and the ratings on its outstanding senior unsecured debentures at ?BBB-? with a ?negative? outlook. At the same time, we assign a rating of ?BBB-? to DTC?s proposed issue of up to THB1 billion in senior unsecured debentures. The proceeds from the new debentures will be used to refinance debentures coming due in September 2021.
The ratings reflect our expectation that DTC?s financial profile will continue to be under tight pressure over the short to medium term, induced by the fallout from the Coronavirus Disease 2019 (COVID-19) pandemic on its hotel operations and the large investment required for the development of the ?Dusit Central Park? project. DTC?s adjusted ratio of debt to earnings before interest, taxes, depreciation, and amortization (EBITDA) is expected to stay elevated at a level above 10 times until 2024. If the Dusit Central project proceeds as planned, the financial risk profile of the company should begi