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A Slowdown In Europe And China, And Sluggish Exports Moderate Asia-Pacific Credit Outlook In 2012 Dec 11
Standard & Poors, Dec 2011
Abstract
Global risks have steadily increased over the year, with economic growth marked down. Brittle market confidence is manifesting in liquidity and funding pressures, particularly in the European Economic and Monetary Union (EMU or eurozone), with a knock-on effect on the rest of the world. While emerging markets are holding up, the base case is for weak growth in the U.S. and a mild recession in the eurozone in the first half of 2012. This has led to greater dependency on China's growth. In Standard & Poor's Ratings Services opinion, the eurozone crisis poses risk, albeit indirect, to sovereigns and banks in Asia-Pacific. Nevertheless, the inherent strengths of the regional governments and financial institutions partly mitigate the risk. Meanwhile, the slowdown...
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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