SINGAPORE (Standard&Poor's) Jan. 14, 2016--Standard&Poor's Ratings Services today said that its recent revision of its oil price assumptions won't immediately affect the ratings on PTT Exploration and Production Public Co. Ltd. (PTTEP: BBB+/Stable/--; axA+/--). Under the revised assumptions, the Thailand-based oil and gas producer's financial strength will weaken, but still remain commensurate with our expectations for the rating. On Jan. 12, 2016, Standard&Poor's lowered the oil price assumptions it uses in its projections for companies in the sector. We expect PTTEP's debt-to-EBITDA ratio, adjusted for asset retirement obligations, surplus cash, and hybrids, to be about 1.2x in 2016 under our revised assumptions of US$40 per barrel of Brent crude for the rest of 2016.
