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S&P: PTTEP Canada notes BBB+
Standard & Poor's said it assigned its BBB+ issue rating to the proposed issue of senior unsecured notes by PTTEP Canada International Finance Ltd. PTT Exploration and Production pcl will guarantee the notes.
The agency said the issue rating reflects PTT Exploration's direct, unconditional and irrevocable guarantee. According to S&P, PTTEP Canada was established for the primary purpose of borrowing and issuing debt securities on behalf of PTT Exploration.
The agency said the issue rating also reflects the long-term corporate credit rating on PTT Exploration.
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