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Bulletin: Ratings On Formosa Plastics Group Unaffected By Passing Away Of Group's Founder Oct 08
Standard & Poors, Oct 2008
Abstract
TAIPEI (Standard & Poor's) Oct. 16, 2008--Standard & Poor's Ratings Services today said that its ratings and outlook on the four core companies of the Formosa Plastics group-- Formosa Plastics Corp., Nan Ya Plastics Corp., Formosa Chemicals & Fibre Corp., and Formosa Petrochemical Corp. (all rated A-/Stable/--)--are not immediately affected by the passing away of the group's founder and former Chairman, Mr. Wang Yeong-ching on October 15, 2008. The group's succession plan transferred its most important decision-makings to a committee composed of second generation family members and experienced managers led by Chairman William Wang about three years ago. Although we believe Mr. Wang Yeong-ching was still highly influential to the group, we do not expect his loss to have an...
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.
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