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PTT Chemical Public Co. Ltd. Oct 10 Product Image

PTT Chemical Public Co. Ltd. Oct 10

  • ID: 1856388
  • October 2010
  • Standard & Poors

Abstract
Favorable cost efficiency Strong market position in olefins Significant business integration with parent Inherent industry risk Weak outlook for the petrochemical industry The rating on PTT Chemical Public Co. Ltd. (PTT Chem) reflects the company's satisfactory business risk profile, given its favorable cost efficiency, dominant market position in olefins in Thailand, and significant business integration with its parent, PTT Public Co. Ltd. (PTT; BBB+/Negative/--). The rating also reflects the expected extraordinary financial support to PTT Chem from PTT over and above the ongoing parental support that is factored into the company's stand-alone credit profile. PTT Chem is the flagship company for PTT's gas-based olefins business. It benefits from its relationship with PTT through secured feedstock supply, netback pricing arrangements, and...

Companies mentioned in this report are: PTT Chemical Public Co. Ltd.,PTT Exploration and Production Public Co. Ltd.,PTT Public Co. Ltd.,Thai Oil Public Co. Ltd.,PTT Aromatics and Refining Public Co. Ltd. (PTTAR),IRPC Public Co. Ltd.
Action: Review

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: Full Analysis

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PTT Chemical Public Co. Ltd.,PTT Exploration and Production Public Co. Ltd.,PTT Public Co. Ltd.,Thai Oil Public Co. Ltd.,PTT Aromatics and Refining Public Co. Ltd. (PTTAR),IRPC Public Co. Ltd.

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

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