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Asia-Pacific Sovereign Outlook: Headwind May Slow Positive Rating Trend Jan 05
Standard & Poors, Jan 2005
Abstract
Asia Pacific's high-flying economies are likely to face more headwind in 2005, but will be largely resilient to most shocks and cyclical corrections. These economies and governments have bolstered their financial strength, especially their external positions, during 2003 and 2004, and are well placed to cope with most foreseeable shocks, including heightened interest and exchange rate adjustments. Correspondingly, the positive rating trend for Asia sovereigns might moderate in 2005, compared with the previous two years. GDP growth for many Asian economies in 2005 is likely to slow toward their medium-term trend growth, with some below potential. India, and perhaps Indonesia, is the exception to lower growth in 2005. Tragically, Asia, especially South and Southeast Asia, ended 2004 on a solemn...
Companies mentioned in this report are: Australia (Commonwealth of) (Unsolicited Ratings),New Zealand,Japan (Unsolicited Ratings),Hong Kong (Special Administrative Region),Malaysia,Thailand (Kingdom of),Korea (Republic of),Singapore (Republic of) (Unsolicited Ratings),Taiwan (Republic of China) (Unsolicited Ratings),India (Republic of) (Unsolicited Ratings),China (People's Republic of ),Indonesia (Republic of),Philippines (Republic of the),Pakistan (Islamic Republic of),Cook Islands,Papua New Guinea (Independent State of),Mongolia,Vietnam (Socialist Republic of)
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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