Fitch Ratings a confirmed the national long-term rating of AIS and AWN to “AAA (tha)”, the national short-term rating to “F1+ (tha)” and the unguaranteed senior rating to “AAA (tha)”. At the same time, the agency removed negative surveillance (RWN) from all ratings of Thailand-based telecommunications company Advanced Info Service Public Company Limited (AIS) and its subsidiary Advanced Wireless Network Company Limited (AWN).

Fitch awarded AIS and AWN ratings to RWN on July 19, 2024 after Gulf announced its intention to merge with Intouch and create a new listed entity. AIS's “AAA (tha)” rating reflects its strong SCP, supported by its solid position in the mobile market with a revenue market share of around 49%. The recent acquisition of Thailand's second largest broadband operator, Triple T Broadband Public Company Limited, allowed AIS to diversify its revenue into non-mobile services, strengthening its market position and supporting medium-term revenue growth and earnings stability.

The ratings of AIS and AWN are evened, reflecting the “high” strategic and operational incentives of AIS and the “low” legal incentive to support its mobile subsidiary, in line with our criteria for scoring the link between the company and the company. re and the subsidiary. AIS' long-term national rating is on par with PTT Public Company Limited (AAA (tha) /Stable), Thailand's largest fully integrated oil and gas company), Thailand's largest fully integrated oil and gas company.

Le retrait de RWN et la confirmation de la notation font suite à l' annonce d' AIS on February 3, 2025 according to which no minority shareholders in AIS did not subscribe to the tender offer. This eliminates the risk that the merged entity of Gulf Energy Development Public Company Limited style="font-family: "Bookman Old Style”, serif"> and the majority shareholder of AIS , InTouch Holdings Public Company Limited , obtienne le contrôle majoritaire d' AIS and has a negative impact on the ratings of AIS