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Asia-Pacific Sovereign Report Card Feb 06
Standard & Poors, Feb 2006
Abstract
This report card compiles rating commentary on the 19 rated sovereigns in Asia-Pacific and their related policy banks, and on the Asian Development Bank. These sovereigns are ordered by sub-geographic region. China's upward revision of its 2004 nominal GDP by 17% resolves some questions over its official statistics, but not all. The revision alleviates concern over previously astronomical investment rates, and highlights the surge in private sector growth. The service sector is better captured, but investment is still the mainstay of the economy. Key distortions in the economy remain the lack of an effective pricing mechanism and structural bottlenecks in selected industries. As such, macroeconomic management will remain blunt and bureaucratic. The government is likely to implement more 'balancing', including...
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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