Fitch Reviews Thailand's Ratings, Applies Criteria Changes

(The following statement was released by the rating agency)

HONG KONG, July 22 (Fitch) Fitch Ratings has downgraded

Thailand's Long-Term

Local Currency (LTLC) IDR to 'BBB+' from 'A-' and affirmed the

Long-Term Foreign

Currency (LTFC) IDR at 'BBB+'. The Outlooks are Stable.

Thailand's senior local

currency bonds have been downgraded to 'BBB+' from 'A-'. The

Country Ceiling has

been affirmed at 'A-' and the Short-Term Foreign Currency (STFC)

IDR at 'F2'.

Fitch has assigned a new Short-term Lo

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