Optimism For Asia-Pacific Sovereign Credit Quality Tempered By Emerging Risks Sep 06

Standard & Poors, September 2006

Abstract
Asia-Pacific sovereign credit quality has improved in 2006, and indications are that this trend is set to continue in the near term. Nevertheless, further credit improvements are likely to slow, reflecting an environment that is less accommodative. Key uncertainties are becoming a bigger worry and could temper the optimistic outlook for the region. Pricey oil, signs of a slowing U.S. economy, and more interest rate hikes could dent the region's economic growth. Still, most Asia-Pacific sovereigns boast stronger credit fundamentals than before, and this should help them withstand approaching challenges. And, in spite of a deceleration in the U.S., global growth could be propped up by the economic recovery in Europe and Japan, while China will be a main driver...

Companies mentioned in this report are:
- Australia (Commonwealth of) (Unsolicited Ratings)
- Japan (Unsolicited Ratings)
- Hong Kong (Special Administrative Region)
- Taiwan (Republic of China) (Unsolicited Ratings)
- India (Republic of) (Unsolicited Ratings)
- China (People's Republic of )
- Indonesia (Republic of)
- Philippines (Republic of the)
- Mongolia
- Vietnam (Socialist Republic of)
- Sri Lanka (Democratic Socialist Republic of)
- Republic of Fiji

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

- Australia (Commonwealth of) (Unsolicited Ratings)
- Japan (Unsolicited Ratings)
- Hong Kong (Special Administrative Region)
- Taiwan (Republic of China) (Unsolicited Ratings)
- India (Republic of) (Unsolicited Ratings)
- China (People's Republic of )
- Indonesia (Republic of)
- Philippines (Republic of the)
- Mongolia
- Vietnam (Socialist Republic of)
- Sri Lanka (Democratic Socialist Republic of)
- Republic of Fiji

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