S&P rates PTT notes BBB+

S&P said it assigned a BBB+ rating to the PTT PCL’s proposed notes, which will be sold through its financing arm PTT Treasury Center Co. Ltd. PTT PCL will guarantee the notes. The notes will be sold through the company’s $2 billion medium-term note program.

“The program and proposed issuance are neutral to PTT’s debt position, in our view. This is because PTT will likely use the proceeds to fund committed investment projects, which we have included in our base case,” S&P said in a press release.

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