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Central Plaza Hotel PLC (CENTEL) Appoints Centara Executive for Chief
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Central Plaza names new CFO
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Gun Srisompong has been promoted Chief Financial Officer at Central Plaza Hotel PLC (CENTEL)
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TRIS Rating downgrades the company rating on Central Plaza Hotel PLC (CENTEL) and the ratings on its existing senior unsecured debentures to ?A-? from ?A?. The rating action follows our view that the escalating Coronavirus 2019 disease (COVID-19) situation in Thailand compounded by a weak economic outlook will likely result in slower-than-expected business recovery for CENTEL and a drawn-out timeline for the company to restore its financial strength. We expect CENTEL?s leverage ratio as measured by the ratio of adjusted debt to earnings before interest, tax, depreciation, and amortization (EBITDA) to continue its sharp rise in 2021 and stay elevated exceeding the threshold of 4 times until 2024 which is not commensurate with the ?A? rating.