Moody's affirms PTT Exploration

Moody's Investors Service said it has affirmed the A2 local currency issuer rating of PTT Exploration and Production PCL and the A2 foreign currency bond rating of its guaranteed subsidiary, PTT Exploration & Production International Ltd.

This affirmation incorporates Moody's decision to raise the baseline credit assessment of PTT Exploration & Production International to 3 from 4.

The outlook remains stable.

The improvement in baseline credit assessment reflects the company's strengthened operating and financial performance and the industry's solid fundamentals, Moody's said..

The upgrade has no impact on the company's A2 rating. Its stable outlook reflects the underlying strength and relative stability of its cash flows, Moody's said.

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