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S&P: PTT notes at BBB+
Standard & Poor's said it assigned a BBB+ rating to the proposed 10-year senior unsecured notes by PTTEP Canada International Finance Ltd.
PTT Exploration and Production PCL will guarantee the notes.
The rating reflects PTT Exploration's direct, unconditional and irrevocable guarantee. PTTEP Canada was established for the primary purpose of borrowing and issuing debt securities on behalf of PTT Exploration, the agency said.
The agency said it expects PTT Exploration to use the proceeds for general corporate purposes, S&P said.
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