Bangchak Sriracha's Credit Rating Firmly Upgraded to "A+" by Tris Rating, Reaffirming the Success of Synergy with Bangchak Group
Bangchak Sriracha Public Company Limited (BSRC) has been upgraded its company rating and senior unsecured debentures rating to "A+" from "A" with a "stable" outlook by TRIS Rating, effective from September 30, 2024. This aligns with the credit rating upgrade of Bangchak Corporation Public Company Limited, reflecting BSRC's critical role in supporting strategy and enhancing the synergy within Bangchak Group. The strengthened fundamentals from its integration with Bangchak Group have resulted in improved operating efficiency and cost savings. A part of this manifest success is evidenced by the record-high quarterly refining utilization of 154,200 barrels per day in the second quarter of 2024.
Bundit Hansapaiboon, Chief Executive Officer of Bangchak Sriracha Public Company Limited, said "The rating upgrade by TRIS Rating this year reflects BSRC's success in organizational transition by synergizing with Bangchak Group. It also reaffirms BSRC's strong foundation of human resources, core values, and operational approaches. We are also confident that investors and the public will have greater trust in BSRC's potential, in terms of investment and as a core organization that contributes to Thailand's sustainable energy security."
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