Formosa Chemicals&Fibre Corp. - S&P Global Ratings’ Credit Research

Formosa Chemicals&Fibre Corp.

Formosa Chemicals&Fibre Corp. - S&P Global Ratings’ Credit Research
Formosa Chemicals&Fibre Corp.
Published Oct 28, 2016
13 pages (4560 words) — Published Oct 28, 2016
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

Strong operating efficiency and product diversity. Strong domestic market position in the petrochemical and oil refining industries. Higher-risk non-core investments. Highly cyclical commodity chemical industry. Asset concentration and rising regulatory risk on environmental protection. Anticipated improvement in the group's leverage and cash flow adequacy in 2016-2017. Reduction of debt guarantee on Formosa Ha Tinh Steel Corp. Disposable investment enhances its financial flexibility. The rating outlook is stable, based on our assessment that the Formosa Plastics (FP) group will continue to lower its debt mostly through its improving operating cash flows. Relatively low capital spending and gradually lower debt guarantee for Vietnam-based Formosa Ha Tinh Steel Corp. also contribute the group's improving funds from operations (FFO) to debt ratio. We expect

  
Brief Excerpt:

...Outlook: Stable The rating outlook is stable, based on our assessment that the Formosa Plastics (FP) group will continue to lower its debt mostly through its improving operating cash flows. Relatively low capital spending and gradually lower debt guarantee for Vietnam-based Formosa Ha Tinh Steel Corp. also contribute the group's improving funds from operations (FFO) to debt ratio. We expect the ratio to be 40%-45% in 2016 and slightly above 50% in 2017....

  
Report Type:

Full Report

Ticker
1433@TT
Issuer
Formosa Chemicals&Fibre Corp.
GICS
Commodity Chemicals (15101010)
Sector
Global Issuers
Country
Taiwan
Region
Emerging Markets
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Formosa Chemicals&Fibre Corp." Oct 28, 2016. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Formosa-Chemicals-Fibre-Corp-1746382>
  
APA:
S&P Global Ratings’ Credit Research. (). Formosa Chemicals&Fibre Corp. Oct 28, 2016. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Formosa-Chemicals-Fibre-Corp-1746382>
  
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