SINGAPORE (Standard&Poor's) June 7, 2012--Standard&Poor's Ratings Services today assigned its 'BBB+' issue rating to the proposed issue of senior unsecured notes by PTTEP Canada International Finance Ltd. (PTTEP CIF). PTT Exploration and Production Public Co. Ltd. (PTTEP; BBB+/Negative/--) will guarantee the notes. The issue rating reflects PTTEP's direct, unconditional, and irrevocable guarantee. PTTEP CIF, an indirect wholly owned subsidiary of PTTEP, was established for the primary purpose of borrowing and issuing debt securities on behalf of PTTEP. The rating on the proposed notes is subject to our review of the final issuance documentation. PTTEP expects to use the proceeds from the proposed notes for refinancing and for general corporate purposes including, but not limited to, funding
