Fitch: National Petrochemical view negative, Thai Olefins positive

Fitch Ratings (Thailand) said it placed the national long-term AA-(tha) and national short-term F1+(tha) ratings on National Petrochemical plc's senior unsecured debt on Rating Watch negative. At the same time, the agency has placed the national long-term A-(tha) rating of Thai Olefins plc's secured debentures on Rating Watch positive.

The placing of the company's on Rating Watch is due to the possible merger of the two companies.

While National Petrochemical and Thai Olefins have so far made no announcement on the possible merger, PTT plc, the major shareholder of National Petrochemicals (37.9%) and Thai Olefins (49%), is now undertaking a feasibility study on the merger.

© 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.