Thai Beverage (SGX:Y92) decided to withdraw its credit rating service with Fitch Ratings, according to a Tuesday filing with the Singapore Exchange.
Shares of the beverage company were up over 1% in Wednesday trading.
The ratings provider has withdrawn its long-term foreign-currency issuer default rating, national long-term rating and ratings on the company's senior unsecured Thai Baht debentures.
Meanwhile, the company is slated to maintain its existing rating agreements with Moody's Investor Service and TRIS Rating.
The company is currently rated Baa3 with a stable outlook by Moody's and AA with a stable outlook by TRIS.
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