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Asia ex-Japan Default And Rating Transition Study 2004 Apr 05
Standard & Poors, April 2005
Abstract
Standard & Poor's Ratings Services is pleased to release its inaugural default and rating transition study for Asia ex-Japan. There had been some concern in the market about the efficacy of credit ratings in Asia given the Asian financial crisis of 1997-1998. This study highlights that the performance of ratings in Asia ex-Japan, in terms of default rates, has not been far outside global norms. In fact, the cumulative default rates for Asia ex-Japan have been slightly lower than those of the global pool. Corporate credit quality in Asia ex-Japan continues to improve, a trend evident since the aftermath of the regional financial crisis in 1997-1998. No default was recorded in 2004 and 2003 for rated issuers. The proportion of...
Companies mentioned in this report are: Hong Kong (Special Administrative Region),Malaysia,Kingdom of Thailand,Republic of Korea,Republic of Singapore (Unsolicited Ratings),Taiwan (Unsolicited Ratings),Republic of India (Unsolicited Ratings),People's Republic of China,Republic of Indonesia,Republic of Philippines,Islamic Republic of Pakistan,Independent State of Papua New Guinea,Mongolia,Socialist Republic of Vietnam
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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