Bangkok, 22 Oct – The NBTC announced that Thailand still has a credit rating of ‘investment-worthy’, emphasizing that the fundamentals of the Thai economy are stable and strong.

Mr. Patchara Anantasilpa, Director of the Public Debt Management Office (PDMO), revealed that the case of a private sector economic and financial research center publishing an analysis report on the forecast of trends and risk factors for Thailand’s future credit rating, may lead to misunderstandings from the facts. The Public Debt Management Office (PDMO) would like to confirm that there has been no downgrade of the country’s credit rating, and the country’s economic fundamentals are strong and stable.

In fact, ‘From the publication of the credit rating assessment report of the country prepared by S and P Global (S and P) and Moody’s Investors Service (Moody’s), which were published on November 28, 2023 and April 11, 2024, respectively, which are data analysis reports that are more current than those cited by the private sector res
earch center, it was stated that the country’s credit outlook is still strong, while maintaining Thailand’s credit rating at the investment grade level, which is BBB+ or Baa1, and maintaining Thailand’s credit outlook at the stable outlook level.’

In the past, the private sector research center published an analysis and presented the issue of ‘Thailand at risk of having its credit rating downgraded’ by referring to data from the credit rating report of Fitch Ratings. This analysis was based on data from the report of only one credit rating company, without considering data from both S and P and Moody’s in preparing the analysis. The PDRC sent a letter to the regulatory agency and the research center on October 18, 2024. Later, it was found that the analysis title had been changed from ‘Is Thailand at risk of having its credit rating downgraded from BBB+?’ to ‘Challenging factors for Thailand’s credit rating risk’ on October 18, 2024, and it was published through the research center’s online channels.

The Mi
nister of Finance has ordered the NBTC to closely and continuously monitor issues related to the economic situation and public debt management, especially Thailand’s credit rating, so as not to affect confidence, create misunderstandings and confusion about the country’s economy and society, which are gradually recovering. -515 – Thai News Agency

Source: Thai News Agencyl