)% 29 28 5% Note: Some capacities in 1Q17 are re-rated. Figure 4: Margins and Returns 6 precisely this reason, as mentioned previously, IVL on a consolidated basis benefitted and delivered a core EBITDA

Non-investment Grade or Non-rated Instruments ________________________ Clause 29 In case where the mutual fund has an investment policy that results in the mutual fund holding an investment position in

Bangkok Commercial Asset Management Public Company Limited 1.4 Company’s credit rating On February 17, 2020, TRIS Rating Co., Ltd. rated the company for the first time on the Standalone basis at “A-” with a

customers in Bangkok. 1.4 Company’s credit rating On February 17, 2020, TRIS Rating Co., Ltd. rated the company for the first time on the Standalone basis at “A-” with a “Stable outlook”. On February 19, 2020

investors. The debenture was rated A+(tha) by Fitch Ratings (Thailand) which reflects the strength of the company’ financial situation. In this offering, the booking of this debenture is 7 times higher than

น่าเชือ่ถอื (rated) : ผูอ้อกไมไ่ดเ้ป็นบรษัิทจดทะเบยีนกับตลาดหลักทรัพย ์ แหง่ประเทศไทย ขอ้มลูจงึมจี ากัด ควรศกึษาและตดิตามขอ้มลูของบรษัิทผูอ้อกอยา่งตอ่เน่ือง *ทัง้นี้ การเปิดเผยลักษณะพเิศษทีส่ าคัญของตรา