capacity for meeting commitments may be troublesome CCC+ CCC CCC- Caa1 Caa2 Caa3 CCC+ CCC CCC- Highly speculative obligations CC CC CC Very low probability of timely and full payment of obligations C C C

. The project was well received by our customers as the Company expected. However, it came to the Company that quantifying size of economic slowdown from COVID-19 at this stage will be highly uncertain

demand in the Eastern Economic Corridor (EEC) area, its high profitability, and highly predictable cash flows. Although, the East Water Group has not been directly nor significantly affected by the COVID

which increased prices due to the drought. Operators are not expected to significantly increase prices and focus mainly on controlling cost, due to the economic slowdown and highly competitive market

quarter but may be restrained by vulnerable and highly uncertain household income as well as elevated household debt. These factors are causing customers to be cautious on spending. Moreover, the tourism

”, with 10 branches in Bangkok and 1 branch in Udon Thani. Mikka has recently became the main focus among the coffee shop franchise business. After the performance in the past year has been highly

curfew measures, the Company had to adjust the closing time to 8.30 PM and 7.30 PM. As a result, this has highly impacted the peak hours of the after-dinner period. The Company expects to see recovery in

subsidy/excessive investment. Ameliorate underinvestment concerns. Howell (2017); Li et al. (2019); Lee et al. (2014) Greater access to finance & undertake positive NPV projects. Pursue highly risky

affected by the COVID-19 outbreak originating in China. However, export growth is expected to improve, resulting from easing trade tensions between the US and China. V3 27/02/63 3 Given this highly uncertain

Deal of the Year - Highly Commended Award by The Asset after the issuance of the first debenture in September 2017 In June 2018, GPSC has received Power Deal of the Year - Highly Commended Award from The