PTTEP Moderate reserve, price risks weigh on ratings
Moody's Investors Service has completed a periodic review of the issuer ratings of PTT Exploration & Production Plc at Baa1, reflecting its strong credit metrics, low production cost resulting from operating efficiencies, cash flow visibility from its long-term gas sales contracts and financial flexibility given its strong liquidity profile.
At the same time, the rating remains constrained by PTTEP's moderate scale of reserves and production, as well as its exposure to the cyclical nature of oil prices.
