Fitch lowers Thai baht issuer outlook to negative
V. Phani Kumar
April 19, 2010
HONG KONG (MarketWatch) -- Fitch Ratings on Monday revised its outlook on Thailand's long-term local currency issuer default rating to negative from stable, while affirming the stable outlook on its foreign currency ratings.
"The outlook change on Thailand's long-term local currency rating reflects an escalation in political uncertainty, coupled with a slow economic recovery and a deteriorating policy environment, all of which are expected to impact adversely on sovereign creditworthiness over time," said Vincent Ho, associate director in Fitch's Asia sovereign ratings team.
The U.S. dollar was higher in Monday's currency trading, changing hands for 32.28 Thai baht from 32.16 baht on Friday.
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