S&P affirms PTT Exploration

Standard & Poor's said it affirmed its BBB+ corporate credit rating on PTT Exploration & Production Public Co. Ltd.

The outlook is stable.

The rating affirmation takes into account PTT's solid asset base, its strong competitive position and its adequate and improving financial profile, the agency noted.

The rating is, however, constrained by the company's heavy capital requirements, risks relating to an increasing presence overseas and its dependence on a single customer, S&P added.

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