Taiwan's Formosa Plastics Corp. Rated 'BBB+'; Outlook Stable Jun 04
- ID: 1818831
- June 2004
- Region: Taiwan
- Standard & Poors
HONG KONG (Standard & Poor's) June 11, 2004--Standard & Poor's Ratings Services said today that it had assigned its 'BBB+' foreign currency corporate credit ratings to Formosa Plastics Corp., Nan Ya Plastics Corp., Formosa Petrochemical Corp., and Formosa Chemicals & Fibre Corp. The outlooks on the ratings on all four companies are stable. There are no specific debt ratings on these companies, but if there were, they would mostly be the same as the corporate credit rating. The exception is Formosa Petrochemical Corp., on which an unsecured debt rating would probably be one notch lower because of the company's relatively high level of secured debt. All four companies are key members of the Formosa Plastics Group, one of the largest...
Companies mentioned in this report are:
- Formosa Plastics Corp.
- Formosa Chemicals & Fibre Corp.
- Formosa Petrochemical Corp.
- Nan Ya Plastics Corp.
Action: New Rating
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Research type: News
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