WHAUP's strong fundamentals support TRIS Rating's "A-" company rating with "stable" outlook, reflecting the growth of utilities and power businesses and strong financial status

Thursday 28 October 2021 15:18
WHA Utilities and Power Plc or WHAUP announced that TRIS Rating affirmed the company rating and its outstanding debentures at "A-" and revised up the rating outlook to "stable", confirming business potential and continuing growth from utilities and power businesses as well as having strong financial status.
WHAUP's strong fundamentals support TRIS Rating's A- company rating with stable outlook, reflecting the growth of utilities and power businesses and strong financial status

Dr. Niphon Bundechanan, Chief Executive Officer of WHA Utilities and Power Plc, said that the TRIS Rating's rating affirmation on WHAUP and its debentures at "A-" with an upward revision to a "stable" outlook reflects a positive view and a trend of growing revenues from utilities business, from both existing customers who are expanding their production capacities and new customers - power plant and petrochemical sectors, which will gradually commence their operations. Furthermore, the power business continues to generate a steady cash flow from dividends received from its power plants and an increasing revenue realization from consecutive commercialization (COD) of new solar rooftop projects. These factors will enable the company to have stable and strong sources of income and share of profits, as well as a healthy cash flow, sufficient to repay its debts and to support business operations. This confirms the company's strong financial status amid the COVID-19 situation.

WHAUP's CEO added that the company will continue to expand its utilities business both inside and outside WHA Group's industrial estates in Thailand and Vietnam, develop alternative raw water resources and value-added water products such as wastewater reclamation and demineralized water projects along with developing Smart Utilities Service Platform and Innovative Solutions to serve its customers. For power business, the company plans to continue increasing in an investment in solar energy business, targeting to have a cumulative contractual capacity of 300 MW within 2023, developing together with an innovative renewable energy solution such as P2P Energy Trading with Block chain technology.

Source: Media Planner Consultant