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Fitch Lifts Thailand Sovereign Rating to BBB.
Byline: Darana Chudasri
Sep. 4--Fitch Ratings yesterday upgraded Thailand's sovereign ratings by one notch to 'BBB', reflecting the strength of economic recovery since the 1997-98 financial crisis.
"Five years of deep external debt reduction are at last being matched by clear signs of economic recovery," Fitch said in a statement.
Long-term foreign currency ratings were raised to 'BBB' from 'BBB-', with long-term local ratings increased to 'A-' from 'BBB+'. The long-term outlook was changed to stable from positive.
Fitch noted that more than US$50 billion in foreign debt had been paid by Thailand since 1997.
"Thailand's ...
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