...PTT Public Company Limited's Issuer Default Ratings reflect its Standalone Credit Profile (SCP) of 'bbb+', which is the same as the Thai sovereign rating (BBB+/Stable). PTT's long- and short- term ratings will remain equalised with those of the sovereign under Fitch's Government-Related Entities Rating Criteria if the SCP weakens, provided our assessment of PTT's strong likelihood of receiving state support under the criteria remains unchanged. PTT's SCP reflects its integrated business model and robust financial position. We expect the oil and gas and chemical businesses to lead core growth through to 2030, amid the gradual transition into the low-carbon energy business and sectors beyond the energy industry....
