EGCO Group Retains “AA” Credit Rating with “Stable” Outlook for 3rd Consecutive Year, Boosting Financial Market Confidence
Amid the global energy transition, economic uncertainty, and a challenging investment environment, Electricity Generating Public Company Limited or EGCO Group continues to earn the confidence of TRIS Rating. The company has retained its corporate credit rating at “AA” and the rating on its senior unsecured debentures at “AA”, with a “Stable” outlook, for the third consecutive year. The ratings reflect EGCO Group’s strong business fundamentals, its ability to generate stable cash flows, and its prudent and disciplined financial management, all of which provide a solid foundation for the company’s long-term growth.
Mr. Somkiat Suttiwanich, EGCO Group’s Chief Financial Officer said, “The ‘AA / Stable’ credit rating that EGCO Group has retained for the third consecutive year reflects the company’s current financial strength, along with its ability to generate stable cash flows, maintain financial discipline, and adapt to the changing energy landscape. This reaffirmation by TRIS Rating is another testament to EGCO Group’s strong business fundamentals and its readiness to achieve sustainable growth while continuing to deliver long-term value to all stakeholders.”
In this rating affirmation, TRIS Rating continues to express a positive outlook in EGCO Group’s ability to maintain its financial strength and operating performance through stable cash generation from its power plants under long-term Power Purchase Agreements (PPAs) with creditworthy offtakers. The ratings also reflect the company's strong liquidity position and solid access to funding sources. Furthermore, TRIS Rating recognizes the strength of EGCO Group’s sizeable and diversified power portfolio, with an attributable power generation capacity of more than 7.3 gigawatts (including both operating power plants and projects under development) across seven countries. Spanning both conventional and renewable power generation, the diversified portfolio enhances the company’s operational flexibility, mitigates risks, and delivers stable long-term returns.
