Bulletin: PTT Global Chemical Rating Drivers May Change On Group Review - S&P Global Ratings’ Credit Research

Bulletin: PTT Global Chemical Rating Drivers May Change On Group Review

Bulletin: PTT Global Chemical Rating Drivers May Change On Group Review - S&P Global Ratings’ Credit Research
Bulletin: PTT Global Chemical Rating Drivers May Change On Group Review
Published Dec 20, 2024
3 pages (1246 words) — Published Dec 20, 2024
Price Free  |  Buy this Report Now

About This Report

  
Abstract:

This report does not constitute a rating action. SINGAPORE (S&P Global Ratings) Dec. 20, 2024--Our review of the group status of Thai Oil Public Co. Ltd. may alter the way we view PTT Global Chemical Public Co. Ltd. We currently view PTT Global Chemical and Thai Oil as highly strategic subsidiaries of the PTT group. Under our existing assessment of group support, we assess the ratings on PTT Global Chemical (BBB/Stable/--) to be one notch below the credit profile of the PTT group. This top-down rating approach results in a three-notch uplift from our 'bb' assessment of the stand-alone credit profile (SACP) of this downstream petrochemical subsidiary. On Dec. 20,2024, we placed our ?BBB? long-term issuer credit ratings on Thai

  
Brief Excerpt:

...December 20, 2024 This report does not constitute a rating action. SINGAPORE (S&P Global Ratings) Dec. 20, 2024--Our review of the group status of Thai Oil Public Co. Ltd. may alter the way we view PTT Global Chemical Public Co. Ltd. We currently view PTT Global Chemical and Thai Oil as highly strategic subsidiaries of the PTT group. Under our existing assessment of group support, we assess the ratings on PTT Global Chemical (###/Stable/--) to be one notch below the credit profile of the PTT group. This top-down rating approach results in a three-notch uplift from our '##' assessment of the stand-alone credit profile (SACP) of this downstream petrochemical subsidiary. On Dec. 20,2024, we placed our `###' long-term issuer credit ratings on Thai Oil and our long- term issue ratings on the company's U.S. dollar-denominated senior unsecured notes on CreditWatch with negative implications. The CreditWatch placement reflects a heightened probability that we could lower the ratings on Thai Oil...

  
Report Type:

Bulletin

Issuer
PTT Global Chemical Public Co. Ltd.
GICS
Commodity Chemicals (15101010)
Sector
Global Issuers
Country
Thailand
Region
Emerging Markets
Format:
PDF Adobe Acrobat
Buy Now

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: PTT Global Chemical Rating Drivers May Change On Group Review" Dec 20, 2024. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-PTT-Global-Chemical-Rating-Drivers-May-Change-On-Group-Review-3302626>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: PTT Global Chemical Rating Drivers May Change On Group Review Dec 20, 2024. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-PTT-Global-Chemical-Rating-Drivers-May-Change-On-Group-Review-3302626>
  
Free
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.