Credit agency Standard & Poor's has affirmed Thailand's sovereign currency rating at BBB+/A-2 with a stable outlook. The local currency sovereign rating was also affirmed at A-/A-2.
"Thailand's favourable external position, relatively light government indebtedness and credibility of its monetary policy are the main rating supports," said S&P credit analyst Takahira Ogawa. "These strengths balance Thailand's low-income economy and continued political uncertainty."
The agency said foreign currency reserves are projected at US$190 billion by year-end, while current account surpluses run since 2006 are expected "to continue at least through 2015".
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