Long-term  :   twAA- Short-term  :   twA-1+ Outlook  :  Negative

Issuer Rating History

Rating Date	Long-term Rating	outlook (credit watch)	Short-term Rating
2025/07/03	twAA-	Negative	twA-1+
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
2025/10/21	Research Update: Ratings On Four Key Formosa Companies Affirmed At 'twAA-/twA-1+'; Outlook Negative
2025/07/03	Media Release: Formosa Plastics Companies Downgraded To 'twAA-' On Weakened Leverage And Profitability; Outlook Negative
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

Last 5 Years Issue Rating History

Series	Amount (Million)	Issue Date	Maturity Date	Coupon Rate (%)	Rating	Rating Date
103-1/C	1,400	2014/9/12	2026/9/12	1.99	twAA-	2025/07/03
103-1/B	0	--	--	--	NR	2024/09/12