TRIS Rating downgrades the company rating on STARK Corporation Pcl. (SET: STARK) to D on Friday, following STARKs interest payment default on its debenture.
According to the announcement by the debentures registrar on 2 June 2023, STARK has suspended the debenture interest payments due on 2 June 2023.
The share price of STARK fell sharply on Thursday, the first trading day after the Thai Stock Exchange permitted temporary trading of the securities, which had been suspended for failing to submit earnings.
However, STARK reversed losses on Friday to conclude the week with a 22.22% gain.
STARK’s temporary trading session will take place from June 1-30, 2023 with the ceiling and floor prices of STARK’s securities on the first trading day (June 1) are not more than 100% of its last trading price. The trading can be done by a cash balance account.
