Moody’s rates PTTEP Treasury notes Baa1

Moody’s Investors Service said it assigned a Baa1 rating to the planned dollar-denominated offering of notes by PTTEP Treasury Center PCL.

The notes will be guaranteed by PTTEP’s parent PTT Exploration & Production PCL.

The notes are being sold in conjunction with a tender for $500 million subordinated perpetual securities sold by PTTEPTC and guaranteed by PTTEP. The notes offering isn’t conditional on the successful tender of the perpetual securities or vice versa, Moody’s said.

The Baa1 rating on the notes is in line with the parent’s rating, a Moody’s analyst said in a press release.

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