Fitch rates PTT Global notes AA+(tha)

Fitch Ratings said it assigned an AA+(tha) rating to PTT Global Chemical PCL’s planned senior unsecured debentures for up to 25 billion Thai baht.

The debentures will constitute direct, unsecured, unconditional and unsubordinated obligations of the company and are rated at the same level as the issuer’s national long-term rating in line with its other senior unsecured debt, Fitch said.

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

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