TRIS Rating assigns a rating of “A” to AP (Thailand) PLC’s (AP) proposed issue of up to THB3 billion senior unsecured debentures due within three years. The proceeds from the new debentures are intended to be used for debt repayments and/or business expansion. At the same time, we affirm the company rating on AP and the ratings on its outstanding senior unsecured debentures at “A” with a “stable” rating outlook.