Thai debt rating upgraded

Thai debt rating upgraded

BANGKOK: Moody's Investors Service on Friday upgraded its
outlook on Thailand's long-term foreign debt rating in a move
hailed by Prime Minister Thaksin Shinawatra as boost for the
country's image and economy.

The U.S. global risk evaluator said it had raised its outlook
on Thailand's Baa3 rating for its foreign currency debt to
positive from stable.

Thai Prime Minister Thaksin Shinawatra on Friday applauded the
move and said a positive image for the country would promote
further economic growth.

"Today we have done our best and I believe that everything
will get better but the most important thing is, everybody must
create a positive country image," Thaksin told reporters when
asked about the upgrade.

Moody's said its outlook upgrade was "prompted by Thailand's
demonstrated resiliency in its external payments position, thanks
to a recent rebound in exports and the resumption of net capital
inflows. -- AFP