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'BBB' Ratings On PTT Chemical Public Co. Ltd. Affirmed With Negative Outlook Aug 09
Standard & Poors, Aug 2009
Abstract
PTT Chemical's favorable cost efficiency and strong market position partly mitigate its significant financial risk profile and inherent industry risk. We affirmed the 'BBB' corporate credit and issue ratings. The negative outlook reflects that on the parent company as well as the challenging outlook for the petrochemical industry. SINGAPORE (Standard & Poor's) Aug. 5, 2009--Standard & Poor's Ratings Services today affirmed its 'BBB' long-term corporate credit rating on Thailand-based PTT Chemical Public Co. Ltd. (PTT Chem). The outlook is negative. At the same time, Standard & Poor's also affirmed the 'BBB' issue rating on PTT Chem's US$300 million senior unsecured notes due 2015. Our view of PTT Chem's business risk profile as satisfactory considers its favorable cost efficiency, dominant market...
Companies mentioned in this report are: PTT Chemical Public Co. Ltd.
Action: Affirmed
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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