Fitch Ratings (
The company plans to use the proceeds for debt repayment and working capital.
Key Rating Drivers
The senior unsecured debentures are rated at the same level as ASK's National Long-Term Rating, as they represent the company's unsecured and unsubordinated obligations and rank equally with its other similar obligations.
ASK's ratings reflect Fitch's assessment of extraordinary support from the ultimate controlling shareholder,
For details on ASK's key rating drivers and sensitivities, see
RATING SENSITIVITIES
Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade
The rating on the senior unsecured debentures would be downgraded if ASK's National Long-Term Rating is downgraded. This may occur if there were any declines in
Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade
An upgrade in ASK's National Long-Term Rating would have a similar effect on the rating of the senior unsecured debentures. For example, there could be rating upside if there is positive action on
Date of Relevant Committee
REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING
The principal sources of information used in the analysis are described in the Applicable Criteria.
Public Ratings with Credit Linkage to other ratings
ASK's National Ratings are linked to
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