...August 4, 2019 SINGAPORE (S&P Global Ratings) Aug. 5, 2019--S&P Global Ratings today said that the explosions in a few locations in Bangkok on August 2 do not materially affect sovereign credit risk for Thailand (foreign currency ratings: ###+/Stable/A-2). These explosions are unlikely to have much impact on political stability, with the government continuing to have the support of much of the Thai establishment and the military. The resulting negative economic impact is also likely to be modest and temporary, in our view. The explosions appear to have been intended to attract international attention on the day of a high-profile meeting of Association of Southeast Asian Nations ministers in the city rather than to do serious damage. The bombs were small devices that did little damage to property and lives. They were also placed in locations away from heavy tourist traffic. The perpetrators did not appear intent on hurting the tourist trade, unlike those involved in the fatal Erawan Shrine...
