Connect with us

Banking

Thailand keeps BBB+ rating unchanged (S&P)

Rating agency Standard & Poor’s today maintained Thailand’s credit rating at BBB+, saying the country’s economic fundamentals are positive but political uncertainty continues to be a risk factor.

Avatar

Published

on

Rating agency Standard & Poor’s today maintained Thailand’s credit rating at BBB+, saying the country’s economic fundamentals are positive but political uncertainty continues to be a risk factor.

S&P credit analyst Kim Eng Tan said financial factors, particularly debt in the public sector, though stable in the short term, must be closely monitored as surging public debt will have a negative impact on the country’s credibility.

Rating agency Standard & Poor’s

Rating agency Standard & Poor’s today maintained Thailand’s credit rating at BBB+,

 

TRIS Rating president Santi Kiranand said the BBB+ rating for Thailand has remained unchanged for the last three years, below Singapore’s AAA rating and Malaysia’s A- rating.

Two key risks involving political instability and natural disasters have been remedied but Thailand’s per capita income remains low – a significant criteria in S&P’s rating, he said.

He said the government’s investment in mega projects, the increase of daily minimum wage to Bt300, stimulus packages on consumption, public and private investments and export will boost Thailand’s gross domestic product and overall economy – positive factors that may contribute to a rating upgrade in the next few years.

“We have explained [to S&P] that the average income of Asian people [cannot be compared] to European and US populations. Their cultures and costs of living are different,” he said.

Though the country’s credit rating has not improved, investors are still keen on investing in Thailand’s stock market and bonds, consequently contributing to rapidly appreciating Thai baht, he concluded. (MCOT online news)

via S&P keeps Thailand’s BBB+ rating unchanged, warns of state splurge | MCOT.net.

Comments

Banking

Singapore’s PayNow and Thailand’s PromptPay Launch Cross-border Payment System

Olivier Languepin and Abhishek Prakash

Published

on

In a global first, Singapore and Thailand have linked their real-time payment systems, PayNow and PromptPay allowing international fund transfers between the two countries within minutes.

Loading...
(more…)

Continue Reading

Asean

12 Things to Know about the ASEAN Catalytic Green Finance Facility (ACGF)

The ACGF is an ASEAN Infrastructure Fund initiative managed by ADB’s Southeast Asia Department Innovation Hub. It helps Southeast Asian governments prepare and finance infrastructure projects promoting environmental sustainability and contributing to climate change goals.

Asian Development Bank

Published

on

Southeast Asia faces an infrastructure investment shortfall of more than $100 billion a year, which may have worsened amid the COVID-19 pandemic.

Loading...
(more…)

Continue Reading

Banking

Thai cabinet approves 350 billion baht Aid for COVID-hit Businesses

Thailand unveiled new measures to help small and medium COVID-hit businesses in the tourism industry hit by a liquidity crunch.

Olivier Languepin

Published

on

The Thai cabinet has approved assistance worth 350 billion baht($11 Billion) to help businesses affected by COVID-19 with soft loans and asset warehousing.

Loading...
(more…)

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,055 other subscribers

Latest

Trending