Moody's rates PTT bonds A2

Moody's Investors Service said it assigned an A2 long-term rating to the proposed issue of ¥36 billion unsubordinated, unsecured, 10-year bonds by PTT plc.

The outlook is stable.

The rating is derived from an underlying credit assessment of the company with reference to Moody's methodology for global integrated oil and gas companies, combined with support and sovereign related factors, the agency said.

Moody's said it also considered the likelihood of support from the government of Thailand.

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