Moody's: PTT Global notes Baa2

Moody's Investors Service said it assigned a provisional Baa2 rating with a stable outlook to the proposed senior unsecured fixed-rate notes to be issued by PTT Global Chemical PCL.

At the same time, Moody's affirmed PTT Global's issuer rating at Baa2 with a stable outlook.

"PTT Global's Baa2 rating combines PTT Global's stand-alone rating of Baa3 with a one-notch uplift, reflecting Moody's assessment of the credit support that its 48.9% parent, PTT PCL, is likely to provide in the event of distress," Moody's vice president and senior analyst Simon Wong said in a news release.

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