S&P rates Thailand's PTT Public

Standard & Poor's said it assigned its BBB foreign currency rating and A- local currency rating to Thailand's PTT Public Co. Ltd.

The outlook is positive.

"The investment-grade ratings reflect PTT's strong competitive position as the owner and operator of Thailand's backbone transmission pipeline and sole long-term purchaser and marketer of natural gas produced in the country. The company also benefits from the attractive growth prospects for the country's gas sector, and its strategic importance to Thailand," said S&P credit analyst Ee-Lin Tan.

"Standard & Poor's believes that PTT is integrated with the government and that the government has a strong incentive in ensuring PTT's financial viability," Tan said.

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