S&P: five Thai entities stable

Standard & Poor's said that it affirmed Advanced Info Service PCL's A- corporate credit rating and upgraded its Asean regional scale rating to axAA from axAA-, and it affirmed Electricity Generating Authority of Thailand's BBB+ corporate credit rating and its Asean axA+ regional long-term and axA-1 short-term ratings.

S&P said it also affirmed PTT PCL's BBB+, Thai Oil PCL's BBB and PTT Chemical PCL's BBB corporate credit ratings.

The outlooks of the five companies were revised to stable from negative.

The revisions follow the revision of the outlook on the Kingdom of Thailand to stable. Advanced Info's revision reflects the view that its metrics are not expected to experience sharp deterioration due to the evolving industry regulations in Thailand, S&P said.

Electricity Generating's and PTT Public's critical importance and very strong link to the government were considered in revising the outlooks, S&P said. The revised outlooks on Thai Oil and PTT Chemical follow the outlook revision on PTT because the ratings on these companies factor in the strong support from PTT.

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