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Asia-Pacific Rides Volatile Greenback, But Dangers Lurk Apr 05
Standard & Poors, April 2005
Abstract
The sliding U.S. dollar is having little immediate impact on credit ratings among Asia-Pacific issuers, predominantly because the pace of dollar depreciation is gradual, allowing markets and economies to adapt. Indeed, in the past month or so, the U.S. dollar has regained some strength on the back of robust U.S. economic data. Nevertheless, dangers lurk from the continuing trend of devaluation in the greenback. Standard & Poor's Ratings Services sees three main risks to credit quality from a tumbling dollar. Rising U.S. and Asian interest rates and tightening liquidity could dramatically slow growth. A rapid withdrawal of speculative funds that have flowed into the region would put additional pressure on interest rates and liquidity, threatening asset prices. Most drastically, but...
Companies mentioned in this report are: Japan (Unsolicited Ratings),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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