Fitch rates PTT Exploration notes BBB+

Fitch Ratings said it assigned a BBB+ rating to PTT Exploration and Production PCL’s proposed dollar-denominated senior note offering.

PTT Exploration’s and the notes’ ratings are based on the company’s strong linkages with its parent PTT PCL, which Fitch rates at BBB+, the agency said.

Fitch sees the proceeds being used to redeem $500 million in perpetual hybrid bonds.

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