PTT Chemical Public Co. Ltd. Oct 10
- ID: 1856388
- October 2010
- Standard & Poors
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.
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