S&P affirms PTT Group

Standard & Poor's said it affirmed its foreign and local currency ratings on the following five Thai corporates.

The outlook is stable.

Affected issuers include PTT Public Co. Ltd. (PTT, foreign currency BBB+/stable, local currency A-/stable), PTT Exploration and Production Public Co. Ltd. (PTTEP, foreign currency BBB+/stable, local currency BBB+/stable), PTT Chemical Public Co. Ltd. (foreign currency BBB/stable, local currency BBB/stable), Thai Oil Public Co. Ltd. (foreign currency BBB/stable, local currency BBB/stable) and The Aromatics (Thailand) Public Co. Ltd. (foreign currency BBB/stable, local currency BBB/stable).

The ratings on PTT reflect the strategic importance of the company to the government's energy policy and the steady demand growth prospects for energy in Thailand, S&P said, adding that the ratings on PTTEP reflect its expectations that PTTEP will maintain its strong domestic position and strategic importance to PTT in the medium to long term.

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