Post by account_disabled on Dec 27, 2023 9:53:42 GMT
Fitch Ratings has announced the rating of the US dollar bonds of PTT Exploration and Production Public Company Limited (PTTEP) (long-term international rating of ' BBB+' Stable Credit Outlook) at 'BBB+'. The bonds will be issued under the Global Medium-term Note Program of PTTEP Financial Management Center. Company Limited, which is a subsidiary and wholly owned by PTTEP. Global Medium-term Note Program and US Dollar Bonds It is rated at the same level as the credit rating of PTTEP's unsecured and unsubordinated bonds.
The proceeds from this bond issue will B2B Email List be used for general corporate purposes. PTTEP's credit rating is at the same level as the credit rating of its parent company, PTT Public Company Limited (PTT), which has a long-term international rating of 'BBB+'. The credit outlook is stable. stability Reflects the relationship in operations and strong strategic ties between the two companies PTTEP's Standalone Credit Profile remains at 'bbb' due to its strong financial and business profile. This is at a similar level to companies engaged in oil and natural gas exploration and production that are rated at 'BBB'. PTTEP still has a high level of ability to increase debt without affecting the rating on its own.
The company still has a debt ratio consistent with the rating. This is despite Fitch's worsening assumptions that oil prices and sales volumes decline significantly. which is a result of the company It has net debt close to zero. Selling prices that are less volatile compared to changes in crude oil prices. Low cost of petroleum production and domestic demand is quite consistent Therefore, the risk of a standalone credit rating downgrade for PTTEP is low. and Fitch may consider upgrading the rating alone.
The proceeds from this bond issue will B2B Email List be used for general corporate purposes. PTTEP's credit rating is at the same level as the credit rating of its parent company, PTT Public Company Limited (PTT), which has a long-term international rating of 'BBB+'. The credit outlook is stable. stability Reflects the relationship in operations and strong strategic ties between the two companies PTTEP's Standalone Credit Profile remains at 'bbb' due to its strong financial and business profile. This is at a similar level to companies engaged in oil and natural gas exploration and production that are rated at 'BBB'. PTTEP still has a high level of ability to increase debt without affecting the rating on its own.
The company still has a debt ratio consistent with the rating. This is despite Fitch's worsening assumptions that oil prices and sales volumes decline significantly. which is a result of the company It has net debt close to zero. Selling prices that are less volatile compared to changes in crude oil prices. Low cost of petroleum production and domestic demand is quite consistent Therefore, the risk of a standalone credit rating downgrade for PTTEP is low. and Fitch may consider upgrading the rating alone.