Moody's: PTT Public outlook stable

Moody's Investors Service said it changed the outlook to stable from negative for PTT Public Co. Ltd.'s A3 local-currency issuer rating and foreign-currency bond rating.

The action follows the revision of the outlook on Thailand's sovereign ratings to stable from negative.

PTT's A3 rating incorporates the credit support that the Thai government (Baa1/stable) is likely to provide, the agency said.

The company's standalone Baa1 rating continues to be underpinned by its relatively stable monopoly position in gas transmission and distribution in Thailand, the agency noted.

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