Fitch rates PTT loans AA+(tha)

Fitch Ratings said it assigned national long-term ratings of AA+(tha) to three new tranches of PTT plc's (rated AA+(tha) with stable view) 7-year, 10-year and 11-year unsecured and unsubordinated debentures, totaling about 7 billion in Thai baht.

The ratings reflect PTT's dominance in the gas and oil business in Thailand, Fitch said, along with its strategic importance and function as a policy vehicle for Thailand's energy security and development.

The ratings also consider the company's large budgeted capital expenditure, exposure to volatile commodity prices and regulatory and political risks, the agency added.

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