Fitch: PTT Global unchanged

Fitch Ratings said PTT Global Chemical PCL's plan to acquire a 51% stake of Perstorp Holding France SAS has a limited impact on the PTT Global's financial position and credit metrics.

The agency noted that the acquisition of Perstorp will only marginally increase PTT Global's financial leverage.

Fitch said it still expects PTT Global's credit metrics to improve in 2012, despite this acquisition.

This acquisition is in line with the company's long-term strategy to expand into downstream and special products, to increase its product coverage and geographical diversification, the agency said.

PTT Global has a national long-term rating of AA-(tha), national short-term rating of F1+(tha) and a national long-term rating on its senior unsecured debentures of AA-(tha).

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