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If done, this will reverse the country's outlook back to before when the Kingdom was downgraded to negative in December last year following the closure of Suvarnabhumi Airport and Donmueang International Airport.

The reason was that, said Pongpanu, there're several supporting indicators particular political stability that have been improved.

This government, he said, was perceived by foreigners as being able to handle the political tension despite some "undercurrent". The government has been supported from several relevant parties, he said.

However, Pongpanu said he still keeps monitoring the development of current protests by the red-shirt group. Though he believes the government would be able to control the situation.

Due to last time downgrading of the country's outlook from stable to negative by several credit rating agencies, the country's cost of foreign funding jumped by as much as 270 basis points. Although the global economic crisis was partly caused overall funding cost increasing.