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Bulletin: Ratings On PTT Aromatics And Refining, PTT Chemical Unaffected By Proposed Merger Feb 11
Standard & Poors, Feb 2011
Abstract
SINGAPORE (Standard & Poor's) Feb. 25, 2011--Standard & Poor's Ratings Services said today that its ratings on PTT Aromatics and Refining Public Co. Ltd. (PTTAR; BBB-/Stable/--; ASEAN scale axA-) and PTT Chemical Public Co. Ltd. (PTT Chem; BBB/Stable/--) will not be immediately affected by the proposed merger of the companies. In our opinion, the business risk profile of the proposed merged entity will be stronger than both PTTAR's and PTT Chem's. This is because the merged company is likely to have an improved competitive position due to its increased product diversity, operational integration, and stronger market position. In our view, the financial risk profile of PTTAR is weaker than PTT Chem's. We anticipate that the merged entity's financial risk profile...
Companies mentioned in this report are: PTT Aromatics and Refining Public Co. Ltd. (PTTAR),PTT Chemical 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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