Fitch Affirms KCE Electronics National Long-Term Rating with Stable Outlook

MT Newswires Live08-26

Fitch Ratings Thailand affirmed KCE Electronics' (SET:KCE) national long-term rating at A-(tha) with a stable outlook.

The rating agency expects the company's earnings to recover from the 2025 cyclical trough, with its EBITDA margin improving from the second half as price increases take effect.

Revenue is projected to rise 12% to 13% in 2026 and 25% to 30% in 2028, supported by higher prices, a richer product mix and additional HDI capacity at its new Rojana plant.

The rating remains constrained by the company's relatively small scale and concentration in automotive printed circuit boards, while its strong market position, liquidity and long-term growth opportunities support the rating.

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