Electricity Generating Public Company Limited (SET: EGCO) has been assigned an “A” credit rating with a “Stable” outlook by Japan Credit Rating Agency, Ltd. (JCR), one of Japan’s leading credit rating agencies.
The rating is equivalent to Thailand’s sovereign rating, reaffirming confidence in EGCO as an investment-grade leader in power and energy-related businesses at the international level. The rating is supported by EGCO’s well-diversified power generation portfolio across both domestic and international markets, as well as its stable cash flows underpinned by a long-term power purchase agreement (PPA).
JCR considers EGCO’s rating to be equivalent to the group’s creditworthiness, given its control over subsidiaries and JVs, its central role in group strategy and funding. The group’s creditworthiness is supported by its strategic importance in the Thai power market and its ability to generate stable cash flows under a long-term PPA with the Electricity Generating Authority of Thailand (EGAT). In addition, JCR expects the company to continue expanding its investments in both domestic and international projects to increase power generation capacity, which is expected to support sustainable growth in revenue and profitability in the future.
Mr. Tawatchai Sumranwanich, President of EGCO, said, “Receiving a credit rating from JCR, a leading credit rating agency in Japan, enhances EGCO’s credibility at the international level and increases opportunities to expand our overseas investor base, supporting the company’s continued growth and business expansion in the future. EGCO currently has diversified investments in power and energy-related businesses in Thailand and six countries across the Asia-Pacific region and the United States. In addition, the company maintains financial stability through investments in power projects with long-term power purchase agreements with creditworthy off-takers.”
Japan Credit Rating Agency (JCR) is a leading credit rating agency in Japan, accredited by Japan’s Financial Services Agency (FSA). It is widely recognized in global financial markets and holds over 60% market share of domestic issuer ratings in Japan. Furthermore, JCR is the only Japanese credit rating institution registered in the United States, the European Union, and the United Kingdom, making its credit ratings broadly accepted internationally.
