Fitch rates PTT Global Chemical notes AA+

Fitch Ratings said it assigned an AA+(tha) rating to PTT Global Chemical PCL's planned senior unsecured debentures of up to THB 30 billion.

“The proposed debentures constitute direct, unsecured, unconditional and unsubordinated obligations of the company and are rated at the same level as Pttgc's national long-term rating in line with its other senior unsecured debt,” Fitch said in a press release.

The proceeds will be used as working capital, to refinance debt and to fund capital expenditures.

The outlook is negative.

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