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Bulletin: Formosa Plastics Group Ratings Are Not Immediately Affected By A Fire At Its Petrochemical Complex May 11 Product Image

Bulletin: Formosa Plastics Group Ratings Are Not Immediately Affected By A Fire At Its Petrochemical Complex May 11

  • ID: 1786655
  • May 2011
  • Standard & Poors

FEATURED COMPANIES

  • Formosa Plastics Corp.
  • Nan Ya Plastics Corp.
  • MORE

Abstract
TAIPEI (Standard & Poor's) May 13, 2011--Standard & Poor's Ratings Services said today that its ratings on the four core companies of the Formosa Plastics group are not immediately affected by a fire at the group's petrochemical complex. Formosa Plastics Corp., Nan Ya Plastics Corp., Formosa Chemicals & Fibre Corp., and Formosa Petrochemical Corp. are all rated 'BBB+' with stable outlooks and 'cnA+' Greater China credit scale ratings. None of the group's manufacturing facilities was damaged by a fire at a utility unit on May 12, 2011; but for safety reasons the group shut down several factories including a naphtha cracker located close to the fire. It is still too early to estimate the revenue losses from the factory closures....

Companies mentioned in this report are:
- Formosa Plastics Corp.
- Formosa Chemicals & Fibre Corp.
- Formosa Petrochemical Corp.
- Nan Ya Plastics Corp.

Action: Bulletin

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Note: Product cover images may vary from those shown

- Formosa Plastics Corp.
- Formosa Chemicals & Fibre Corp.
- Formosa Petrochemical Corp.
- Nan Ya Plastics Corp.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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