Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Formosa Petrochemical Corp. > News item |
S&P lifts Formosa, notes to A-
Standard & Poor's said it raised the long-term corporate credit ratings on the Formosa Plastics group - Formosa Plastics Corp., Nan Ya Plastics Corp., Formosa Chemicals & Fibre Corp. and Formosa Petrochemical Corp. - to A- from BBB+.
S&P said it raised the rating on senior unsecured notes of Nan Ya Plastics (Hong Kong) Co. Ltd. to A- from BBB+.
The outlook is stable.
The upgrades reflect the group's improved earnings quality, underpinned by the group's reinforced economies of scale, vertical integration and strengthening product diversity, the agency said, as well as the improved financial profile of the four companies as a whole.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.