Bangchak Sriracha’s Credit Rating Upgraded to A+ by TRIS

Bangchak Sriracha Public Company Limited (BSRC) has had its company rating and senior unsecured debentures rating upgraded to “A+” from “A” with a “stable” outlook by TRIS Rating, effective from 30 September 2024. This aligns with the credit rating upgrade of Bangchak Corporation Public Company Limited, underscoring BSRC’s critical role in supporting strategy and enhancing synergy within the Bangchak Group. The integration with Bangchak Group has strengthened BSRC’s fundamentals, resulting in improved operational efficiency and cost savings. A key indicator of this success is the record-high quarterly refining utilisation of 154,200 barrels per day in the second quarter of 2024.
Bundit Hansapaiboon, Chief Executive Officer of Bangchak Sriracha Public Company Limited, stated, “The rating upgrade by TRIS Rating this year reflects BSRC’s successful organisational transition through synergy with the Bangchak Group. It also reaffirms BSRC’s strong foundation in human resources, core values, and operational approaches. We are confident that this will inspire greater trust from investors and the public in BSRC’s potential, both in terms of investment and as a core organisation contributing to Thailand’s sustainable energy security.”