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Bulletin: PT Chandra Asri Petrochemical's Proposed Ownership Changes Have No Impact On Rating Sep 11
Standard & Poors, Sep 2011
Abstract
SINGAPORE (Standard & Poor's) Sept. 20, 2011--Standard & Poor's Ratings Services said today that SCG Chemical's proposal to buy 30% of PT Chandra Asri Petrochemical Tbk. (Chandra Asri; B+/Stable/--) has no impact on the rating on the latter. The new owners' influence on Chandra Asri's investment and financing plans and the resultant impact of these activities on Chandra Asri's business risk and financial risk profiles remain the key rating drivers, in our opinion. We expect to get more clarity on these plans in the next one to two months, after which we will review the rating impact. Siam Cement Public Co. Ltd. (unrated) announced today that it had entered into separate share purchase agreements through a wholly owned subsidiary, SCG...
Companies mentioned in this report are: PT Chandra Asri Petrochemical Tbk.
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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