Fitch Ratings maintains Thailand's credit rating at BBB+

BANGKOK, October 1 (TNA) - Fitch Ratings, a global leader in financial information services, has maintained Thailand's credit rating at BBB+. James McCormack, global head of sovereign ratings at Fitch Ratings Co. in London, announced the decision on Wednesday, saying that his company has a stable outlook on the Thai economy. McCormack acknowledged that his company will follow up results of the Thai government's new economic stimulus measures to be used for its next-round assessment of Thailand's credit rating. McCormack suggested that the Thai government's new economic stimulus measures boost domestic investment and the national economic growth by 4 per cent next year. According to Fitch Ratings's global head of sovereign ratings, his company supports the Thai government's increase in infrastructure investment and considers its new economic stimulus measures will not have any negative impact on its fiscal measures. Meanwhile, Vallop Vitanakorn, Vice Chairman of the Thai National Shippers' Council, predicted that the value of Thai exports should totally stand at 227 billion US dollars this year, a drop by 0.25 per cent, the second consecutive year decline after a fall of 0.4 per cent last year, as shipments to all overseas markets have dropped, except exports through border trade to Cambodian, Laos, Myanmar and Vietnam, which have risen by 12 per cent. (TNA)