Fitch Ratings ranks EGAT’s reliability at ‘BBB+’ and outlook at ‘Stable,’ comparable to Thailand’s level

Fitch Ratings announced that EGAT’s reliability level is at ‘BBB+’ level and will probably remain stable, which is comparable to Thailand’s reliability level, reflecting EGAT as a leader in electricity business of Thailand as well as the organization’s financial strength.

Mr. Prasertsak Cherngchawano, Deputy Governor – Strategy and Spokesperson of the Electricity Generating Authority of Thailand (EGAT) revealed that Fitch Ratings announced the result of EGAT’s ‘International Credit Rating’ in 2022, which is at ‘BBB+’ level, comparable to Thailand’s level. EGAT’s outlook is also at ‘Stable’ level continuously. The ranking is a result of EGAT’s financial strength, despite liquidity issues from taking on the Fuel Adjustment Cost (Ft) for the people in accordance with the government policy. It shows that EGAT plays an important role as a state enterprise responsible for electricity generation and procurement, as well as the national transmission system to ensure the power system security of Thailand.

The international reliability ranking shows EGAT’s strength and ability to repay debt and manage liquidity, which will be beneficial for raising funds in the capital market, domestically and internationally, for investing in various projects in the future. It also shows EGAT’s potential and credit reliability to customers. EGAT receiving the international ‘BBB+’ level since 2020 reflects the global reliability of the organization.