Moody’s Ratings on Tuesday revised Thailand’s credit outlook to stable from negative, while affirming the country’s foreign- and local-currency issuer ratings, as well as its local-currency senior unsecured rating, at Baa1. The upgrade reflects easing pressure from earlier U.S. tariffs and a reduction in domestic political volatility.
Moody’s had cut Thailand’s outlook about a year ago over concerns that the economy would be constrained by U.S. trade measures. The latest revision signals that political uncertainty has subsided following national elections.
Moody’s now forecasts Thailand’s real GDP growth at about 1.5% in 2026 and 2.2% in 2027, citing ongoing structural weaknesses and the drag from higher oil prices. Separately, S&P Global Ratings currently assigns Thailand a BBB+ rating with a stable outlook.
