Fitch Assigns MTC ‘A-(tha)’ National Long-Term Rating with Stable Outlook
Fitch Ratings assigned Muangthai Capital Public Company Limited (MTC) an ‘A-(tha)’ National Long-Term Rating with a Stable Outlook. MTC said the rating reflected its strong position in vehicle-title lending, nationwide network of 7,980 branches, asset-quality management and satisfactory financial performance, as well as its commitment to inclusive financial opportunities and sustainable business.
Parithad Petampai, Deputy Managing Director of MTC, said the rating reinforced the company's ambition to become a world-class microfinance provider focused on expanding financial opportunities while operating sustainably and to international standards. He added that it would support confidence among domestic and international investors.
MTC stated that the rating was supported by its strong vehicle-title lending franchise, 7,980 branches at the end of the second quarter of 2024, more than 32 years of industry experience, asset quality managed in line with targets and satisfactory financial performance.
The company believes the credit rating will help broaden access to domestic and international funding sources and enable more efficient management of funding costs.
MTC continues to expand access to finance across Thailand in support of the United Nations goal of reducing financial inequality. Through its branch network and service technology, the company seeks to meet customer needs at fair interest rates, act as a socially responsible lender and provide equitable access to high-quality services that meet international standards.
The company also continues improving its lending processes across the value chain to protect customer interests and meet customer expectations.
MTC cited its ‘Excellent’ five-star corporate-governance rating, A-level SET ESG Rating and AA MSCI rating, as well as cooperation with the Japan International Cooperation Agency (JICA) and Germany's KfW DEG. The company said it welcomed further cooperation with leading domestic and international funding sources to strengthen the economy, improve quality of life, preserve environmental stability and grow sustainably alongside Thai society.
