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BULLETIN: Rating On PTT Chemical Unaffected By Acquisition Bids In Downstream Companies Aug 06
Standard & Poors, Aug 2006
Abstract
SINGAPORE (Standard & Poor's) Aug. 24, 2006--Standard & Poor's Ratings Services said today that its 'BBB' ratings on Thailand's PTT Chemical Public Co. Ltd. remain unaffected by the company's plan to increase its holdings in PTT Polyethylene (PTTPE) and Bangkok Polyethylene (BPE) to 100% from 50%. The increase will be effected with PTT Chemical acquiring 50% stake of each company from PTT Public Co. Ltd. (foreign currency BBB+/Stable/--, local currency A-/Stable/--), which is currently 50.1% shareholder of PTT Chemical. The outlook on the rating remains stable. The acquisitions are expected to result in a significant increase in investments and capital expenditures to Thai baht (THB) 97 billion (US$2.57 billion) over the five-year period between 2006 and 2010, from THB58 billion...
Companies mentioned in this report are: PTT Chemical Public Co. Ltd.,PTT Public Co. Ltd.
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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