Bangkok: The National Broadcasting and Telecommunications Commission (NBTC) has confirmed that Thailand retains its ‘investment-worthy’ credit rating, underscoring the stability and robustness of the country’s economic fundamentals.
According to Thai News Agency, Mr. Patchara Anantasilpa, Director of the Public Debt Management Office (PDMO), addressed concerns arising from a private sector economic and financial research center’s analysis, which suggested potential risks to Thailand’s future credit rating. He clarified that there has been no downgrade and reaffirmed the strength of the nation’s economic foundations.
The PDMO referenced assessments by major credit rating agencies, S and P Global and Moody’s Investors Service, published on November 28, 2023, and April 11, 2024, respectively. These reports confirmed that the country maintains its credit rating at an investment grade level of BBB+ or Baa1, with a stable outlook, contrary to the implications of the private sector’s analysis, which predominantly
relied on Fitch Ratings’ data.
The private sector research center initially released an analysis titled ‘Thailand at risk of having its credit rating downgraded,’ based solely on Fitch Ratings’ report. This prompted the PDMO to issue a letter to the regulatory agency and the research center on October 18, 2024. Subsequently, the title of the analysis was amended to ‘Challenging factors for Thailand’s credit rating risk’ and was disseminated through the research center’s online platforms.
The Minister of Finance has instructed the NBTC to vigilantly monitor developments related to the economic climate and public debt management, especially concerning Thailand’s credit rating. This directive aims to prevent any erosion of confidence or misunderstandings as the country’s economy and society continue their gradual recovery.