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Bulletin: Formosa Plastics Group Ratings Are Not Immediately Affected By A Fire At Its Manufacturing Facilities Jul 10
Standard & Poors, July 2010
Abstract
TAIPEI (Standard & Poor's) July 8, 2010--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 one of its facilities. Formosa Plastics Corp., Nan Ya Plastics Corp., Formosa Chemicals & Fibre Corp., and Formosa Petrochemical Corp. are all rated 'BBB+' with stable outlooks. Revenue losses from the fire at Formosa Petrochemical's naphtha cracker facilities on July 7, 2010, will depend on the timeframe for restoring the cracker's operations. However, we expect the group's diverse business scope and inventory on hand to largely absorb the negative impact of the incident. Standard & Poor's estimates the disrupted naphtha cracker contributed about 4% of the...
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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