Fitch Ratings (Thailand)'s National Long-Term Rating of 'AAA(tha)' on PTT Public Company Limited's (AAA(tha)/Stable) medium-term debenture programme remains the same despite the increase in the programme size to THB150 billion, from THB110 billion.
The programme was first rated on 14 April 2020 and affirmed on 26 April 2021. The outstanding debentures under the programme total THB102 billion.
The debentures under the programme are senior unsecured with a maturity of up to 30 years and are rated at the same level as PTT's National Long-Term Rating, as they constitute its direct, unsecured, unconditional and unsubordinated obligations.
For more information on the National Long-Term Rating and other ratings of PTT, please refer to our Fitch Affirms Thailand-Based PTT at 'BBB+/AAA(tha)'; Outlook Stable, published on 26 April 2021. RAC is available at www.fitchratings.com.