Mitihoon – Tidlor Holdings Public Company Limited (TIDLOR) announced that Japan Credit Rating Agency, Ltd. (JCR), a leading credit rating agency in Japan, has assigned the Company a foreign and local currency long-term issuer rating of “A-” with a Stable outlook, marking a significant milestone as the first non-bank financial group in Thailand to receive a credit rating from JCR. This rating underscores TIDLOR’s solid business fundamentals, strong financial position, and international competitiveness.
The rating is based on TIDLOR’s strong position and competitiveness in the vehicle title loan market, sound profitability, and prudent risk management, supported by effective credit underwriting and robust collection systems, as well as sufficient reserves, and strong corporate governance frameworks. It also reflects the strength of the group, taking into account the support from Bank of Ayudhya Public Company Limited (BAY), the major shareholder, which has MUFG, a leading global financial institution from Japan, as its shareholder.
Mr. Piyasak Ukritnukun, Managing Director, stated that “Receiving the ‘A-’ credit rating is another important step, affirming the stability and international standing of the group. The rating, which remains at the Investment Grade level, is expected to enhance our access to a broader range of funding sources, supporting business expansion and ensuring sustainable and high-quality growth over the long term.”
Meanwhile, JCR has maintained Thailand’s sovereign credit rating at “A”, while TIDLOR has been assigned “A-” credit rating, which is just one notch below the country’s rating. This underscores the company’s strong financial position and its readiness for long-term, high-quality growth.
Japan Credit Rating Agency, Ltd. (JCR) is a leading credit rating agency in Japan. It is accredited by Japan’s Financial Services Agency (FSA) and is the only Japanese credit rating agency registered in the United States, the European Union, and the United Kingdom, and is widely recognized in international financial markets.
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