Formosa Plastics Corp.
Current Rating
Rating FAQ
Long-term  :   twAA
Short-term  :   twA-1+
Outlook  :  Negative
Issuer Rating History
Rating Date Long-term Rating outlook (credit watch) Short-term Rating
2023/10/30 twAA Negative twA-1+
2021/10/07 twAA Stable twA-1+
2020/10/16 twAA- Stable twA-1+
2019/10/22 twAA Negative twA-1+
2018/10/15 twAA Stable twA-1+
2017/10/18 twAA- Positive twA-1+
2014/10/29 twAA- Stable twA-1+
2011/08/02 twAA- Negative twA-1+
2009/05/06 twAA- Stable twA-1+
2007/12/06 twAA Stable twA-1+
2007/06/07 twAA- Stable twA-1+
2003/12/04 twAA- Stable twA-1
2001/10/29 twA+ Stable twA-1
Research Analysis
Publish Date Subject
2024/10/25 Research Update: Ratings On Four Key Formosa Companies Affirmed At 'twAA/twA-1+'; Outlook Negative
2023/10/30 Media Release: Formosa Plastics Companies Outlook Revised To Negative From Stable On Weak Profitability; 'twAA/twA-1+' Ratings Affirmed
2023/07/12 Bulletin: Formosa Plastics Group's Rising Cash Inflows Can Support Stable Debt
2022/10/28 Research Update: Ratings On Four Key Formosa Companies Affirmed At 'twAA/twA-1+'; Outlook Stable
2022/10/12 Bulletin: Extended Downturn Erodes Formosa Plastics Group Companies' Rating Buffers
2021/10/07 Media Release: Four Formosa Companies Upgraded To 'twAA/twA-1+' On Low Debt Leverage; Outlook Stable
2020/10/16 Media Release: Ratings On Formosa Plastics Group Core Units Lowered To 'twAA-' On Growing Operating Headwinds; Outlook Stable
2020/06/02 Bulletin: Formosa Plastics Group Faces Narrow Rating Headroom Amid COVID-19
Last 5 Years Issue Rating History
Series Amount
(Million)		 Issue Date Maturity Date
 Coupon Rate
(%)		 Rating Rating Date
103-1/B   5,000 2014/5/21 2026/5/21 1.92 twAA  2021/10/07
103-1/A   0 -- -- -- NR  2024/05/21
102-2/B   0 -- -- -- NR  2023/11/08
102-1/B   0 -- -- -- NR  2023/06/10
101-3/C   0 -- -- -- NR  2022/11/05
*Taiwan Ratings maintains continuous surveillance over its ratings and the “Rating date” below refers to the last date on which the ratings/outlook have been changed or the ratings on/off CreditWatch.
*Unless there is a material change in our rating views on a given entity, Taiwan Ratings does not update the “Rating date,” which is accordance with the general international practice for rating disclosures.