S&P: PTT Chemical unchanged

Standard & Poor's said its BBB ratings on PTT Chemical Public Co. Ltd. remain unaffected by the company's plan to increase its holdings in PTT Polyethylene and Bangkok Polyethylene to 100% from 50%.

The agency said that the increase will be effected with PTT Chemical acquiring 50% stake of each company from PTT Public Co. Ltd. (foreign currency BBB+/stable, local currency A-/stable), which is currently 50.1% shareholder of PTT Chemical.

The outlook remains stable.

S&P added that PTT Chemical's ratings continue to be premised on its favorable operating efficiency and strong market position achieved through its significant business integration with and ownership by PTT, although these strengths are partly offset by high product price volatility and site concentration risks.

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