TEXT-Fitch cuts Mercedes-Benz (Thailand)'s Bonds to 'AA(tha)'

Newswire

(The following statement was released by the rating agency) Jan 30 - Fitch Ratings (Thailand) Limited has today downgraded the National Long-term rating of Mercedes-Benz (Thailand) Limited's (MBTh) THB2.5bn guaranteed debentures due 2009 to 'AA(tha)' from 'AA+(tha)', following a downgrade on Germany's Daimler AG (Daimler), MBTh's guarantor and parent. The Outlook is Stable. The rating is based entirely on the full, irrevocable and unconditional guarantee provided by Daimler. On 29 ...

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