Fitch changes PTT view

Fitch Ratings said it revised the outlook on PTT PCL and PTT Exploration and Production PCL to positive from stable.

The agency affirmed the two companies' issuer default ratings and PTT Exploration’s senior unsecured rating at BBB+.

The agency said the actions follow the revision of outlook on Thailand's BBB+ sovereign rating to positive from stable on July 19.

PTT's ratings are equalized with those of the sovereign, Fitch said, and this is due to the agency’s assessment of a strong likelihood of government support for PTT, if needed.

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