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Asia-Pacific Sovereigns: Report Card, August 2004 Jul 04
Standard & Poors, July 2004
Abstract
Sovereign credit quality in the Asia-Pacific region is expected to remain relatively stable for the rest of 2004, although with a positive bias, continuing the trend of the first half. Since the previous Asia-Pacific Sovereign Report Card was published in February 2004, Standard & Poor's Ratings Services has raised the ratings on China, and revised the outlooks on Indonesia to positive from stable, and Japan and Hong Kong to stable from negative. These positive rating movements were due mainly to improving growth prospects, thanks to restructuring efforts, beneficial macroeconomic policies, and improving fiscal positions or decreasing fiscal vulnerability. Looking forward, further fiscal consolidation and sustained external strength could drive upgrades in sovereign ratings. On the other hand, an inability to...
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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