MELBOURNE -- Standard&Poor's CreditWire 9/19/97 -- Standard&Poor's today assigned its single-'A'-minus long-term rating to PTT Exploration and Production Public Co. Ltd.'s (PTTEP) Y23 billion (US$200 million) bonds due 2007. PTTEP's rating reflects its key public policy role, its close operational ties to the government of Thailand, and its competitive position in the oil and gas industry. The funds will be applied to finance the company's exploration, development, and production activities. The company's public policy role stems from its important position in developing long-term supplies of oil and gas for Thailand. Unlike most other countries in the region, Thailand has an acute shortage of energy, and the trend toward greater industrialization is putting additional pressures on supplies.
