Tris Rating has affirmed the rating of Aeronautical Radio of Thailand Ltd (AEROTHAI) at AAA, with stable status reflecting
good safety performance, strong fiscal status and experienced management team.

The company has a good safety record. The firm's rate of air traffic incidents ranged from 2.2-3.7 per 100,000 instrument flight rule (IFR)
flight movements over the past five years. These figures are below the global average of 4.7 per 100,000 IFR flight movements.

The growth in air traffic volume has led to an increase in financial performance. AEROTHAI posted revenue growth of 4.7% during fiscal year 2017
and 6.7% in the first six months of fiscal year 2018. While AEROTHAI has invested to develop air navigation services and enhance the capacity to
accommodate air traffic growth. AEROTHAI has been rated AAA with stable status since 2015 until now, with the commitment to maintain our service quality.