Fitch lowers PTT outlook to negative

Fitch Ratings said it has revised the outlook on PTT Public Co. Ltd.'s long-term foreign currency issuer default rating and long-term local currency issuer default rating to negative from stable.

At the same time, the agency said it has affirmed PTT's long-term foreign currency issuer default rating at BBB+, long-term local currency issuer default rating at A and short-term foreign currency issuer default rating at F2.

Fitch added that it also affirmed PTT's national long-term rating at AAA(tha) and national short-term rating at F1+(tha). The outlook on the national ratings remains stable.

The outlook revision was triggered by the agency's outlook revision earlier on the Kingdom of Thailand's sovereign long-term foreign currency issuer default rating and long-term local currency issuer default rating to negative from stable.

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