PTTEP's financial risk profile remains modest and its business risk profile satisfactory. Nevertheless, there is not much room for further weakening in PTTEP's financial risk profile. We affirmed the 'BBB+' corporate credit rating on PTTEP with a negative outlook. We expect any future impact from the commission findings on Montara to be limited. SINGAPORE (Standard&Poor's) June 29, 2010--Standard&Poor's Ratings Services today affirmed its 'BBB+' corporate credit rating on Thailand's PTT Exploration and Production Public. Co. Ltd. (PTTEP) with a negative outlook. PTTEP's business risk profile continues to be satisfactory, in our opinion. Although we view the industry risk for oil and gas upstream companies as fair, given the high commodity price volatility, cyclicality, and capital intensity,
