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Thailand in line for a ratings upgrade

Thailand in line for a ratings upgrade

(Thailand) A Standard & Poor’s team will fly in to Thailand this month to run a rule over the economy with a view to upgrading the country’s ratings. In light of Thailand’s strong economic growth and effective management of banks’ non-performing assets, the country is expecting a ratings upgrade from S&P, a move which could encourage further investment from the US and Europe.

S&P visited Thailand at the end of last year and changed its outlook for the country’s BBB-minus long-term foreign currency rating from "stable" to "positive". Such a move is normally the precursor to a ratings upgrade.

Thailand Prime Minister Thaksin Shinawatra has tipped the economy to grow by more than five percent in 2003.
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