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Asian Cross-Border Bond Market Picks Up After Regional Crisis Sep 01
Standard & Poors, Sep 2001
Abstract
Asia's cross-border bond market is beginning a revival as companies in the region shed a reluctance to participate in international bond markets brought on by the 1997-1998 Asian financial crisis. For the past several years, bond issues by Asian corporates have declined as companies restructured their balance sheets and investor demand weakened. By contrast, 2001 has seen a string of bond issues in Asia, with a number of borrowers coming to the market for the first time. Key cross-border bond issues in 2001 have included a debut US$600 million 10-year bond ('A-') by Hongkong Land Co Ltd., a US$850 million 10-year subordinated debt issue ('A-') by Development Bank of Singapore Ltd., and a US$600 million 10-year bond ('BBB') by Tenaga...
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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