Moody’s preserves Thailand’s credibility at Baa1/negative

BANGKOK, 24 May 2010 (NNT) – A leading global credit rating company, Moody’s Investors Service, maintains the credibility evaluation of Thailand at Baa1 with a negative outlook due to the recent pandemonium in Bangkok.

Besides the preservation of Thailand’s credibility at Baa1, other types of credibility are also kept at the same level as the political conflict in Thailand has not posed any threat to fundamental factors of creditworthiness.

However, Moody’s stated that the shrinking investor confidence would have significant impact on Thailand’s long-term credibility.

Mr Thomas Byrne, senior vice president of Moody’s, said although the political standoff between the Thai government and the anti-government demonstrators in Bangkok on 19 May had resulted in casualties, the indication of susceptibility to short-term confidence had been standing at a good level since the beginning of the rally over 2 months ago.