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S&P cuts PTT Exploration view
Standard & Poor's said it revised the outlook on PTT Exploration and Production PCL to negative from stable.
At the same time, S&P said it affirmed its BBB+ long-term corporate credit rating on PTT Exploration.
The agency said it also affirmed the BBB+ issue ratings on the senior unsecured notes issued by PTTEP Canada International Finance Ltd. and PTTEP Australia International Finance Pty Ltd. and guaranteed by PTT Exploration.
S&P said it also revised the outlook to negative to reflect the agency's view that PTT Exploration's debt is likely to remain elevated for the next two years due to the company's sustained growth strategy.
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