Connect with us

Banking

Fitch Ratings raises Thailand’s credit rating to BBB+

Prime Minister Yingluck Shinawatra on Saturday said that it was good news for Thailand that Fitch Ratings has raised its credit rating on Thailand, citing a resilient economy and a more stable political environment.

Published

on

Thai Baht banknote 1000

Prime Minister Yingluck Shinawatra on Saturday said that it was good news for Thailand that Fitch Ratings has raised its credit rating on Thailand, citing a resilient economy and a more stable political environment.

Ms Yingluck said that the upgrade was the result of cooperation from all parties concerned and could strengthen Thailand’s credit ranking as a whole.

fitch rating

She added that the rating upgrade will benefit the country and allow it to borrow at cheaper rates.

The rating agency cited a strong economy, low government debt and a stable political situation as being three of the main reasons for the rating upgrade.

Fitch said in a statement on Friday that the rating agency has upgraded Thailand’s Long-Term Foreign Currency Issuer Default Rating (IDR) to ‘BBB+’ from ‘BBB’.

The Outlook is Stable. The Long-Term Local Currency IDR has been affirmed at ‘A-‘ with a Stable Outlook. The Short-term Foreign Currency IDR is upgraded to ‘F2’ from ‘F3’. The Country Ceiling is upgraded to ‘A-‘ from ‘BBB+’.

The new rating is in line with the ratings assigned by two larger US-based ratings agencies, Standard & Poor’s and Moody’s Investors Service.

According to the statement, Fitch said Thailand’s economy has been resilient to repeated shocks, including heavy flooding in the fourth quarter of 2011, underpinned by a flexible monetary and exchange-rate policy framework.

It said Fitch has revised its assessment of risks to policy predictability and the investment environment from political and social tensions.

The investment rate has accelerated in recent years. The government led by Yingluck Shinawatra has consolidated its position and faced no serious extra-legal challenges since its election in July 2011. (MCOT online news)

via PM is pleased after Fitch Ratings raises Thailand’s credit rating | MCOT.net.

Click to comment

Leave a Reply

Banking

The Importance of E-Wallets for Online Gaming Sites

With e-wallets and cryptocurrency being the most relevant options, banks have been put on the side burner, especially when e-wallets and cryptocurrency allow for fast electronic transfer, that is done instantly.

Published

on

e-wallet

Online gambling is an industry that needs to keep up with technological trends, to make sure it stays relevant and convenient within the gambling community.

(more…)
Continue Reading

Banking

Thai Government to issue Bt50 bln ( $1.57 bln)Savings Bonds to fund COVID-19 Relief Measures

The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “Sor Bor Mor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of these bonds is 1,000 baht, without no maximum. Interest is paid twice a year.

Published

on

BANGKOK (NNT) – Thailand’s Public Debt Management Office (PDMO) plans to issue “Ying Aom Ying Dai” (the more you save, the more you earn) government savings bonds, worth 50 billion baht, next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.

(more…)
Continue Reading

Most Viewed

Subscribe via Email

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

Join 14,160 other subscribers

Wise

Recent