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Aromatics (Thailand) Public Co. Ltd. (The) Aug 07
Standard & Poors, Aug 2007
Abstract
Strategic ownership and support by PTT Favorable cost structure and high capacity utilization rate Strong domestic market position Intermediate financial profile Inherent industry risk and price volatility of products and feedstock Small-scale operations and single-site risk Heavy reliance on PTT for feedstock and sales The 'BBB' rating on Thailand's ATC reflects its strong ownership and support by state-owned oil and gas conglomerate, PTT Public Co. Ltd. (PTT; foreign currency BBB+/Stable/--; local currency A-/Stable/--), favorable cost efficiency, high capacity utilization rate, strong domestic market position, and intermediate financial profile. The rating on ATC is constrained by inherent industry risk, its small-scale operations, and heavy reliance on PTT. PTT had announced on July 20, 2007, that it would support the amalgamation between...
Companies mentioned in this report are: PTT Aromatics and Refining Public Co. Ltd. (PTTAR),PTT Exploration and Production Public Co. Ltd.,PTT Public Co. Ltd.,Thai Oil Public Co. Ltd.,PTT Chemical Public Co. Ltd.
Action: Review
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: Full Analysis
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