| Rating Agency | Rating | Outlook | Last Update | Action |
|---|---|---|---|---|
| Standard & Poor's | BBB+ | - | 14 Apr 2020 | outlook downgrade |
| Moody's Investors Service | Baa1 | - | 21 Apr 2020 | outlook downgrade |
| Fitch Ratings | BBB+ | - | 17 Mar 2020 | outlook downgrade |
| DBRS | - | - |
Current Thailand credit ratings, according to the main rating agencies, provide a snapshot of the country’s creditworthiness and financial stability. These ratings are critical for understanding how international and domestic investors perceive Thailand ability to honor its financial commitments.
The ratings are determined by comprehensive evaluations conducted by major credit rating agencies such as Standard & Poor's (S&P), Moody's, and Fitch Ratings. Each of these agencies uses a distinct rating scale and methodology to assess the economic and financial health of Thailand, taking into account various factors such as economic performance, fiscal policies, political stability, and debt levels.
Discover what a Credit Rating is and why it matters.
Thailand: Long-term Rating Scales Comparison
Thailand long-term credit ratings, as assigned by major rating agencies, offer a comparative insight into the country's creditworthiness over an extended period. Each rating agency uses its own scale to evaluate the credit risk associated with Thailand sovereign debt. These scales help investors understand the likelihood that Thailand will meet its financial obligations.
Symbol means a negative outlook.
| Grade | Description | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|---|
|
Investment Grade |
Prime |
AAA
|
Aaa
|
AAA
|
AAA
|
| High Medium Grade |
AA+
|
Aa1
|
AA+
|
AA(high)
|
|
|
AA
|
Aa2
|
AA
|
AA
|
||
|
AA-
|
Aa3
|
AA-
|
AA(low)
|
||
| Upper Medium Grade |
A+
|
A1
|
A+
|
A(high)
|
|
|
A
|
A2
|
A
|
A
|
||
|
A-
|
A3
|
A-
|
A(low)
|
||
| Lower Medium Grade |
BBB+
|
Baa1
|
BBB+
|
BBB(high)
|
|
|
BBB
|
Baa2
|
BBB
|
BBB
|
||
|
BBB-
|
Baa3
|
BBB-
|
BBB(low)
|
||
|
Speculative Grade |
Speculative |
BB+
|
Ba1
|
BB+
|
BB(high)
|
|
BB
|
Ba2
|
BB
|
BB
|
||
|
BB-
|
Ba3
|
BB-
|
BB(low)
|
||
| Highly Speculative |
B+
|
B1
|
B+
|
B(high)
|
|
|
B
|
B2
|
B
|
B
|
||
|
B-
|
B3
|
B-
|
B(low)
|
||
| Substantial Risk |
CCC+
|
Caa1
|
CCC+
|
CCC(high)
|
|
|
CCC
|
Caa2
|
CCC
|
CCC
|
||
|
CCC-
|
Caa3
|
CCC-
|
CCC(low)
|
||
| Extremely Speculative |
CC
|
Ca
|
CC
|
CC
|
|
|
C
|
C
|
C
|
C
|
||
| In Default |
RD
|
/
|
RD
|
RD
|
|
|
SD
|
/
|
SD
|
SD
|
||
|
D•NR
|
D•NR
|
D•NR
|
D•NR
|
||
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Thailand Credit Ratings historical data
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
| Date | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|
| 21 Apr 2020 | Baa1 | |||
| 14 Apr 2020 | BBB+ | |||
| 17 Mar 2020 | BBB+ | |||
| 11 Dec 2019 | BBB+ | |||
| 26 Jul 2019 | Baa1 | |||
| 23 Jul 2019 | BBB+ | |||
| 8 Mar 2013 | BBB+ | |||
| 9 Dec 2010 | BBB+ | |||
| 28 Oct 2010 | Baa1 | |||
| 16 Apr 2009 | BBB | |||
| 4 Dec 2008 | Baa1 | |||
| 1 Dec 2008 | BBB+ | |||
| 31 Oct 2006 | BBB+ | |||
| 19 Sep 2006 | BBB+ | BBB+ | ||
| 11 May 2005 | BBB+ | |||
| 26 Aug 2004 | BBB+ | |||
| 3 Mar 2004 | BBB | |||
| 26 Nov 2003 | Baa1 | |||
| 7 Oct 2003 | BBB | |||
| 1 Oct 2003 | Baa3 | |||
| 3 Sep 2003 | BBB | |||
| 10 Oct 2002 | BBB- | |||
| 20 Aug 2002 | BBB- | |||
| 22 Jun 2000 | Baa3 | |||
| 24 Jun 1999 | BBB- | |||
| 5 May 1999 | BBB- | |||
| 3 May 1999 | Ba1 | |||
| 26 Apr 1999 | BB+ | |||
| 14 May 1998 | BB+ | |||
| 8 Jan 1998 | BBB- | |||
| 21 Dec 1997 | Ba1 | |||
| 27 Nov 1997 | Baa3 | |||
| 24 Oct 1997 | BBB | |||
| 1 Oct 1997 | Baa1 | |||
| 9 Sep 1997 | A3 | |||
| 3 Sep 1997 | A- | |||
| 1 Aug 1997 | A | |||
| 8 Apr 1997 | A3 | |||
| 13 Feb 1997 | A2 | |||
| 29 Dec 1994 | A | |||
| 8 Dec 1992 | A- | |||
| 19 May 1992 | A- | |||
| 26 Feb 1991 | A- | |||
| 1 Aug 1989 | A2 | |||
| 26 Jun 1989 | A- | |||
| 14 Jun 1989 | A- |
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