TRIS Rating affirms the company rating on CP All PLC (CPALL) and the ratings on its outstanding senior unsecured debentures at ?A+? with a ?stable? outlook. At the same time, TRIS Rating assigns the rating of ?A+? to CPALL?s proposed issue of up to THB66 billion in senior unsecured debentures. The proceeds from the new debentures will be used to refinance its outstanding debts and for working capital needs.
The ratings continue to reflect CPALL s strong business profile, underpinned by its market position as the dominant operator of convenience stores in Thailand, the cash-base nature of its business, the strength of its nationwide store network, and its well-established support facilities.