Thai riots weaken outlook

Standard & Poor's lowers its local currency rating for Thailand after anti-government protests turn violent.

Standard Poor's yesterday lowered Thailand's local currency rating, saying that news footage of violent clashes on the streets of Bangkok were likely to spook foreign investors and cause further economic disruption. SP dropped the ratings by a notch to A-, in response to the troubles of the holiday weekend, and affirmed its negative outlook.

The rating downgrade reflects the latest deterioration in the Thai political situation, which has diminished further the prospects of a near-term return to stability, said...

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