OREANDA-NEWS. Fitch Ratings has for the first time assigned Thai Beverage Public Company Limited (ThaiBev) a Long-Term Issuer Default Rating (LT IDR) of 'BBB', with a Stable Outlook. The agency has also assigned a first-time National Long-Term Rating of 'AA+(tha)', with a Stable Outlook.

ThaiBev's ratings are driven by its robust competitive position as the largest beverage producer in Thailand; its wide distribution network; diversified product portfolio; high barriers to entry particularly in alcoholic segment; and strong financial profile. The ratings are moderated by the concentration of ThaiBev's cash flows in the domestic market.