Executive Comment: Fostering Robust Credit Cultures Is Key To Developing Deep And Liquid Corporate Bond Markets In Asia-Pacific Nov 10

Standard & Poors, November 2010

Abstract
While many Asia-Pacific countries have made good progress developing local corporate bond markets in recent years, we believe the region still has a long way to go to realize its full potential. We view deep and liquid debt markets as a regional imperative as many Asia-Pacific countries seek to build market maturity and sophistication--the characteristics that traditionally have attracted so many issuers to the U.S. and European markets. In our opinion, the importance of fostering national credit cultures built on transparency, creditors' rights, and independent and objective credit analysis cannot be understated; such credit cultures enable and strengthen the development of fully-functioning local corporate bond markets and broader regional markets. Nearly every Asia-Pacific government has started trying to build local...

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)

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.

- 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)

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