Fitch rates PTT Exploration notes BBB+

Fitch Ratings said it assigned a BBB+ rating to PTT Exploration and Production PCL proposed dollar-denominated notes. The notes will be issued under its global medium-term note program by its fully owned financing subsidiary, PTTEP Treasury Center Co. Ltd.

PTT Exploration’s ratings are equalized with that of its parent, PTT PCL mirroring Fitch’s assessment of the strong operating and strategic linkages between the two companies.

The dollar notes are rated at the same level as PTT Exploration’s senior unsecured debt as they constitute direct, unconditional, unsubordinated and unsecured obligations of PTT Exploration.

The bond proceeds will be used mostly to refinance debt.

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