TRIS Rating affirms the company rating on IVL and the ratings on IVL’s senior unsecured debentures at “AA-” with a “stable” outlook. TRIS Rating also affirms the rating on IVL’s subordinated perpetual debenture at "A" with a “stable” outlook.

In addition, TRIS Rating assigns the rating of "A" to IVL’s proposed issue of up to 15,000 Baht million in subordinated perpetual debentures (hybrid debentures).

TRIS Credit Rating Report