Published in Data Science and Engineering (DSE) Record 2025 Vol. 6 No. 1 pp. 211-224
Abstract
Nowaday, there are over 921 listed companies on the Stock Exchange of Thailand, with a total market capitalization of 17,430,644.71 billion THB as of the end of 2023. These listed companies can issue bonds (debt securities) for public sale, providing Thai investors with diverse financial investment options. In 2023, more than 4,753,851 billion THB was raised through initial bond offerings. Despite stringent oversight by the Securities and Exchange Commission of Thailand (SEC), some companies have faced financial failures, leading to delisting and defaults on bond payments, which have significantly harmed numerous investors. Most companies that defaulted on bond payments lacked credit ratings from credit rating agencies, which are crucial for investors to assess the risk of financial failure. As of August 2024, only 175 listed companies on the Stock Exchange of Thailand had received credit ratings from Tris Rating Co., Ltd. This highlights the importance of analyzing and estimating credit ratings for listed companies based on their financial statements to support Thai investors in evaluating financial investments. The findings of this research aim to provide a valuable tool for investors in analyzing investments in financial instruments issued by listed companies. The result of study show in a tabular format including machine learning model performance and training parameters.