Thailand Maybe Downgraded if Instability Worsens -S&P

        0640 GMT [Dow Jones] If Thailand's political instability worsens as a result of more violence and has a protracted effect on the economy following the Constitutional Court's dismissal of former prime minister Yingluck Shinawatra Standard & Poor's Ratings Services may downgrade the country's sovereign credit rating, it says. However, the dismissal has no immediate effect on the rating, it says. Yingluck's dismissal will probably delay elections scheduled for July 20 and, therefore, the formation of a new government--further slowing growth, it says. Strong fundamentals continue to support the rating but the persistent "political uncertainty and Thailand's relatively low-income economy act as rating constraints," S&P says. (warangkana.chomchuen@wsj.com)
        (END) Dow Jones Newswires

        May 08, 2014 02:40 ET (06:40 GMT)