Bangchak Corporation Public Company Limited (BCP) has proudly secured a remarkable upgrade in its credit rating from TRIS Rating. The company’s corporate credit has been elevated to an impressive “A+” from a previous “A,” marking the highest rating Bangchak has ever achieved. This stellar rating comes with a “Stable” outlook, taking effect from Monday, 30 September 2024.
This credit uplift is a testament to the fortification of Bangchak’s business framework, significantly bolstered by the flourishing sectors of refining and oil trading, along with its robust marketing operations. Integral to this achievement has been the successful incorporation of Bangchak Sriracha Public Company Limited (BSRC) into the Bangchak Group. This strategic move, coupled with the continual expansion of its exploration and production (E&P) business, has been a driving force for sustainable growth. Furthermore, the diversification of Bangchak’s business portfolio serves as a crucial buffer against the inherent volatility in oil prices and refining margins, ensuring a more stable performance.
Mr. Chaiwat Kovavisarach, the Group CEO and President of Bangchak Corporation Public Company Limited, shared his enthusiasm, “This credit rating upgrade reaffirms the success and capability of our strategic execution. Over the past year, following the acquisition of BSRC, we have consistently realised increasing benefits from synergies, surpassing our original targets. This has significantly strengthened the growth and resilience of our refining, oil trading, and marketing businesses. Moreover, our exploration and production business, through our investment in OKEA ASA in Norway, continues to expand its production in line with set targets, significantly enhancing Bangchak’s competitiveness and operational flexibility. We are committed to maintaining financial discipline and making prudent investment decisions to ensure sustainable and stable growth.”
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