BANGKOK/SINGAPORE, March 17 (Fitch) Fitch Ratings today hosted
ceremony for its newly relocated office in Bangkok and a Global
Briefing on its new premises.
The ceremony was officially opened by Dr. Vorapol Socatiyanurak,
General of Thailand's Securities and Exchange Commission.
H.E. Kittiratt Na Ranong, Deputy Prime Minister and Minister of
provided the opening keynote address.
Brett Hemsley, Managing Director and Head of Asia Pacific at
Fitch Ratings gave
the welcoming speech.
"We started operations in Thailand in 2001, so this marks the
anniversary of Fitch Ratings Thailand. Fitch also this year
celebrates our 100th
anniversary of establishment in New York in 1913. I believe that
differentiates Fitch is the transparency of our methodologies,
the quality of
our research, the timeliness of our rating actions and the
accessibility of our
analysts. One of the key differentiators of Fitch's business
approach is the
emphasis we place on local knowledge and the development of
local offices," said
Andrew Colquhoun, Head of Sovereigns, Asia Pacific, led the
Briefing with an overview of the major global economies - US,
Europe, China and
Japan as well as the recent upgrade of the sovereign ratings for
"Fitch's upgrade of Thailand to 'BBB+'/Stable in March 2013
economy's resilience in the face of global and domestic shocks,
Fitch's judgement by a robust macroeconomic policy framework.
sovereign credit picture remains one of a narrowing differential
higher-income economies and so-called emerging markets. This
deterioration in high-income sovereigns' credit profiles and
improvements in many emerging markets including greater economic
improved sovereign balance sheets," said Mr Colquhoun.
Vincent Milton, Managing Director of Fitch Ratings Thailand who
set up the
agency for Fitch in February 2001 said that over the past decade
the agency has
developed a leading coverage of the major Thai and foreign
institutions and corporations operating in Thailand.
"When we first set up Fitch's office, Thailand was still
recovering from the
financial crisis of 1997 so the focus on deleveraging and
sheet strength was the top priority for Thai corporates and
this rebuilding and cautious management of credit and other
risks helped shield
Thailand from the significant shocks over the past few years. We
look forward to
further contributing to the development of the Thailand's
capital markets in the
future," said Mr Milton.
The opening ceremony was attended by over 150 senior executives,
investors and media.
+66 2108 0169
Fitch Ratings (Thailand) Limited
Park Ventures Level 17,
57 Wireless Road, Lumpini, Patumwan, Bangkok 10330 Thailand
Media Relations: Leslie Tan, Singapore, Tel: +65 67 96 7234,
Additional information is available on www.fitchratings.com.
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