China quake may affect firms’ ratings - S&P

14 May 2008 04:31  [Source: ICIS news]

SINGAPORE (ICIS news)--Credit rating agency Standard & Poor's said late on Tuesday that Monday’s devastating earthquake in China’s Sichuan province could affect the credit ratings of companies with facilities concentrated in the vicinity of the epicentre.

Although the full extent of the damage was still to be assessed, the firm did not expect the credit profiles of the affected companies to change significantly, S&P added in a statement.

US chemical majors like Dow, Eastman and DuPont have not reported any major damages or disruptions to operations and plants.

Other European and Asian companies like BASF, Kemira, Akzo Nobel and PetroChina, however, have reported varying extent of damages, shutdowns for safety concerns and disruptions to operations.

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By: Bohan Loh
+65 6780 4359

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