S & P maintains ratings, outlook for Thailand

NEW YORK (AFP): U.S. ratings agency Standard and Poor’s yesterday announced that it has maintained all its credit ratings on Thailand and that its outlook on the country remains stable. The agency predicted no change in Thailand’s general economic policy and reform efforts following national elections on January 6. But it also warned that ratings could weaken if the pace of private sector reform slows in the next government, or if policies are implemented that shake the confidence of international investors. Standard and Poor’s in a statement credited Thailand with improved bank supervision, a stronger financial sector, and fewer barriers to foreign investment. It also cited expected current account surpluses of 6.5% of gross domestic product in 2000 and 4% in 2001, and tamer than anticipated inflation.