Moody’s Affirms Thai Oil’s Credit Rating at Baa3 Amid Debt Reduction and Financial Strategy
Bangkok: Moody’s affirmed Thai Oil’s Baa3 credit rating, citing a strengthened balance sheet following proactive debt reduction of over US$933 million. The company is also preparing to receive approximately 18.23 billion baht from an asset management project in collaboration with PTT. According to Thai News Agency, Thai Oil Public Company Limited (TOP) announced that on October 27, 2025, Moody’s Ratings