S&P maintains "stable outlook" for Thailand

BANGKOK, January 24 (TNA) - US-based Standard & Poor's (S&P), an internationally-recognized credit rating firm, has maintained the "stable outlook" for Thailand, after finding strong fundamentals of the Thai economy but uncertainty remained for domestic politics. KimEng Tan, S&P’s analysis manager for Asia Pacific, told journalists on Thursday that S&P has maintained the stable outlook for Thailand, after its officials met Thai government authorities last November and reviewed updated developments of the country. Tan said S&P has not found any sign of growing debts of Thailand in the short term, but it is monitoring the country's long-term public debt situation, especially debts of special government agencies, warning that an increase in public debt can affect Thailand's credit rating. Meanwhile, Santi Kiranand, President of TRIS Rating Co, Thailand's first and wellknown credit rating firm, acknowledged that Thailand has maintained the BBB+ rating for a long time, the third place after Singapore with the AAA rating and Malaysia with the A- rating, because of the country's political and natural disaster risks. According to TRIS president, although both risks have been addressed, the rating of Thailand has not improved because the country's per capita income, which is a major factor in credit rating, has remained low. The TRIS president assessed that Thailand's credit rating should rise over the next few years, thanks to the government's new investment in megaprojects and 300-baht daily minimum, as well as domestic consumption stimulation, investment from both the public and the private sectors and Thai exports, which should also boost the country's gross domestic product (GDP). (TNA)