SINGAPORE (Standard&Poor's) June 26, 2006--Standard&Poor's Ratings Services said today it affirmed its 'BBB' corporate credit rating on Thai Oil Public Co. Ltd. (Thaioil). The outlook is stable. At the same time, Standard&Poor's affirmed its 'BBB' issue rating on Thaioil's senior unsecured bonds of US$350 million. Thaioil is the leading petroleum refiner and supplier of refined petroleum products in Thailand. The company owns and operates a refinery with a nameplate capacity of 220,000 barrels per day. It is also involved in petrochemical production, power generation, and oil and chemical coastal tanker operations. "The rating on Thaioil reflects its operational integration and ownership by state-owned oil and gas conglomerate, PTT Public Co. Ltd., its favorable cost
