Moody´s chops down PTT´s credit

BANGKOK, 29 June 2010 (NNT) – An international credit rating firm, Moody’s Investors Service, has lowered the creditworthiness of Thai petroleum giant PTT Plc from A2 to A3 with a negative outlook.

Moody’s Investors Service has changed the local currency issuer rating for PTT Plc from A2 stable to A3 negative while the foreign currency issuer rating is kept at A3 with negative outlook in accord with the negative creditbility earlier given to Thailand.

Earlier in May, Moody’s announced the creditworthiness evaluation for Thailand to be at Baa1 with a negative outlook due to the recent political unrest in Bangkok. However, other types of credibility have been kept at the same level as the political pandemonium has not posed any threat to the overall credit.