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Report Card: Asia-Pacific Sovereigns In 2011: Generally Stable Credit Quality; Inflation, Capital Flows Make Policy Environment Tricky Mar 11
Standard & Poors, March 2011
Abstract
Asia-Pacific sovereigns continue to outperform most other regions in terms of growth and creditworthiness trends. With few exceptions, we expect to see the largely stable credit trend continue over the next three to five years--and in some cases, a degree of upward momentum in sovereign credit quality. That said, the intertwined challenges of strong capital inflows and rising inflationary pressures bring in important credit risks. Domestic politics and increasing geopolitical risks further complicate policy decisions. The catalysts for recent events in several Middle Eastern countries are certainly not lost on policymakers in jurisdictions where lower- and middle-income livelihoods are pressured increasingly by inflation and where the political system does not allow citizens to effect policy changes thorough democratic means. Hence,...
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.
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