Moody’s assigns Baa1 to PTTEP notes

Moody’s Investors Service said it assigned a Baa1 senior unsecured rating to the proposed dollar-denominated notes to be issued by PTTEP Treasury Center Co. Ltd., a wholly-owned subsidiary of PTT Exploration & Production Public Co. Ltd.

The notes will be guaranteed by PTTEP on an unsubordinated basis. The guarantee will rank pari passu to the unsecured and unsubordinated obligations of PTTEP.

“PTTEP’s Baa1 senior unsecured rating reflects our expectation that its credit metrics and liquidity will remain strong despite the subdued oil price environment,” said Jacintha Poh, a Moody’s vice president and senior credit officer, in a press release.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.