SINGAPORE (Standard&Poor's) Jan. 8, 2014--Standard&Poor's Ratings Services said today that its ratings on PTT Exploration and Production Public Co. Ltd. (PTTEP: BBB+/Stable/--; axA+/--) are not affected by the company's planned capital expenditure of US$17.5 billion from 2014 to 2018. PTTEP's planned spending is within our tolerance for the rating. Under our base-case assumptions and considering the higher level of capital expenditure, we expect the company to maintain its debt-to-EBITDA ratio at 1.0x-1.5x over the next two to three years. PTTEP recently announced its five-year investment plan. Most of the company's investments are focused on improving production volumes and proved reserves life in Southeast Asia.
