S&P raises rating to BBB+ for Formosa Plastics stock
Published on 10/21/2026 at 11:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSCredit outlook and operating scale
- S&P Global Ratings raised the company rating from BBB to BBB+ on October 19, 2026.
- Formosa Plastics forecasts 2026 revenue of TWD 1,228 billion, 15.85 percent above 2025.
- Formosa Plastics stock stood at TWD 77.00 on October 21, 2026, on the Taiwan Stock Exchange.
Formosa Plastics (ISIN TW0001301000) received a higher long-term issue rating of BBB+ from BBB on October 19, 2026, according to S&P Global Ratings. The action puts leverage and operating recovery at the center of the investment debate.
Three rating and earnings signals
On October 7, 2026, Formosa Plastics scheduled maintenance at an acrylic acid plant, according to Polymerupdate. On October 13, 2026, Masterlink Securities upgraded the stock to Buy from Hold and set a TWD 65.00 target, as reported by MarketScreener. S&P Global Ratings then raised the credit rating to BBB+ on October 19, 2026.
What does the upgrade mean for earnings?
S&P's forecast for Formosa Plastics points to 2026 revenue of TWD 1,228 billion, up 15.85 percent from TWD 1,060 billion in 2025. Forecast EBITDA rises to TWD 199 billion from TWD 64 billion over the same periods. The figures are company-specific forecasts in S&P's rating analysis, not reported results.
The rating agency linked the improvement to stronger profitability, lower leverage and a shift toward higher-value electronic materials. It forecast that the four-company Formosa group would generate TWD 190 billion to TWD 210 billion of EBITDA in 2026, while the company-level forecast gives investors a more direct scale for Formosa Plastics.
Stock valuation after the upgrade
Formosa Plastics stock was last quoted at TWD 77.00 on the Taiwan Stock Exchange on October 21, 2026 at 1:30 p.m. TST. The quoted price sits above Masterlink's TWD 65.00 target from October 13, 2026, making the credit improvement more important than a simple rating headline for equity investors.
Formosa Plastics stock facts
- Company: Formosa Plastics Corporation
- ISIN: TW0001301000
- Ticker: 1301.TW
- Primary exchange: Taiwan Stock Exchange
- Market capitalization: TWD 490.2 billion (as of October 21, 2026)
- 52-week range: TWD 36.50-89.40 (as of October 21, 2026)
Market context: Market report TAIEX.
