Summary: PTT Chemical Public Co. Ltd. Apr 06
- ID: 1857353
- April 2006
- Standard & Poors
The 'BBB' corporate credit rating on Thailand's PTT Chemical Public Co. Ltd. reflects the company's improved market position and strong cost position following the merger between Thai Olefins Public Co. Ltd. (TOC) and National Petrochemical Public Co. Ltd. (NPC). PTT Chemical continues to benefit from its 50.03% ownership by state-owned oil and gas conglomerate, PTT Public Co. Ltd. (PTT; foreign currency BBB+/Stable/--; local currency A-/Stable/-), and its significant business integration with PTT. The rating is constrained by the small scale of PTT Chemical's operations relative to global competitors, the inherent industry risk given the volatility of product prices, and customer concentration. PTT Chemical manufactures olefin products, other downstream products, and by-products, with total olefins production capacity of 1,523 thousand tons...
Companies mentioned in this report are: PTT Chemical Public Co. Ltd.,PTT Public Co. Ltd.
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