BANGKOK, 11 March 2014 Deputy Prime Minister and Finance Minister Kittiratt Na Ranong posted on his Facebook page warning that Thailand’s confidence ratings might start to suffer due to the prolonged political conflicts.
Mr. Kittiratt revealed that on March 5, Moody’s Investors Service and Fitch Ratings had given Thailand the confidence rating of Baa1 and BBB+ respectively. He attributed the positive outlook to the government’s good standing in its overall debt management.
Mr. Kittiratt added that Thailand’s debt structure is mainly comprised of internal debt, which sheds positive light on the confidence rating. Moreover, he said, the nation’s commerce and industry are still seen as relatively strong.
However, Moody’s and Fitch have stated that should the current political turmoil continue and be prolonged further, it may have long term effects on the nation’s tourism and production sectors — also decreasing the overall confidence rating.