Fitch Ratings (Thailand) expects further stabilisation of the ratings of Thai corporate bond issuers, as Thailand is expected to show an economic growth rate of 5.5 per cent this year, driven by reconstruction spending, a rebound in manufacturing producti
In its report "Fitch Thailand National Ratings 2011 Transition Study", the rating agency said that in 2011, 88 per cent of its corporate ratings were unchanged with the remainder being more upgrades than downgrades. In the year, 3 issuers were upgraded while one was downgraded. At end-2011, Fitch Thailand maintained 35 national ratings on corporate finance issuers and three on structured finance bonds.
The report further affirmed Thai companies' strengths, amid waves of bad news in the export sector.