Research Update: Thai Oil 'BBB' Rating Affirmed With Stable Outlook On Parent Support; Stand-Alone Credit Profile Revised To 'bbb-' - S&P Global Ratings’ Credit Research

Research Update: Thai Oil 'BBB' Rating Affirmed With Stable Outlook On Parent Support; Stand-Alone Credit Profile Revised To 'bbb-'

Research Update: Thai Oil 'BBB' Rating Affirmed With Stable Outlook On Parent Support; Stand-Alone Credit Profile Revised To 'bbb-' - S&P Global Ratings’ Credit Research
Research Update: Thai Oil 'BBB' Rating Affirmed With Stable Outlook On Parent Support; Stand-Alone Credit Profile Revised To 'bbb-'
Published Apr 25, 2016
Published Apr 25, 2016
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

We believe Thai Oil has a highly strategic status within the PTT group, and we see an extremely high likelihood of extraordinary government support for the PTT group in the case of financial distress. We believe the improvement in Thai Oil's credit quality underpinned by lower leverage in 2015 is sustainable over 2016-2017. We are revising upward our assessment of Thai Oil's stand-alone credit profile to 'bbb-' from 'bb+'. We are affirming our 'BBB' long-term corporate credit rating and our 'axA' ASEAN regional scale rating on the Thailand-based refinery-and-petrochemical company and our 'BBB' long-term issue rating on its senior unsecured notes. The stable outlook reflects our opinion that PTT group's credit profile and Thai Oil's group status will remain unchanged

  
Report Type:

Research Update

Ticker
TOP@TB
Issuer
Thai Oil Public Co. Ltd.
GICS
Oil & Gas Refining & Marketing (10102030)
Sector
Global Issuers
Country
Thailand
Region
Emerging Markets
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Thai Oil 'BBB' Rating Affirmed With Stable Outlook On Parent Support; Stand-Alone Credit Profile Revised To 'bbb-'" Apr 25, 2016. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Thai-Oil-BBB-Rating-Affirmed-With-Stable-Outlook-On-Parent-Support-Stand-Alone-Credit-Profile-Revised-To-bbb-1622082>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Thai Oil 'BBB' Rating Affirmed With Stable Outlook On Parent Support; Stand-Alone Credit Profile Revised To 'bbb-' Apr 25, 2016. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Thai-Oil-BBB-Rating-Affirmed-With-Stable-Outlook-On-Parent-Support-Stand-Alone-Credit-Profile-Revised-To-bbb-1622082>
  
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