BULLETIN: Rating On PTT Chemical Unaffected By Acquisition Bids In Downstream Companies Aug 06

Standard & Poors, August 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

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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.

PTT Chemical Public Co. Ltd.,PTT Public Co. Ltd.

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