-- Thaioil's favorable cost structure and flexibility in feedstock selection ensures lower cash costs and provides protection during cyclical downturns. -- We affirmed the 'BBB' corporate credit and issue ratings. -- The negative outlook reflects that on the parent as well as the challenging outlook for refinery and petrochemical industries. SINGAPORE (Standard&Poor's) Aug. 3, 2009--Standard&Poor's Ratings Services said today that it had affirmed its 'BBB' long-term corporate credit rating on Thai Oil Public Co. Ltd. (Thaioil). The outlook is negative. At the same time, we also affirmed the 'BBB' issue rating on the company's US$350 million senior unsecured notes due 2015. "We affirmed the ratings to reflect the support Thaioil continues to receive from its operational
