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Asia-Pacific ratings roundup through Dec. 20


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According to Market Intelligence, April 2023

Asia-Pacific ratings roundup through Dec. 20

S&P Global Market Intelligence presents a summary of ratings actions on Asia-Pacific financial institutions and economies.

Dec. 20

* Fitch Ratings placed the AAA(idn) national long-term rating of Indonesia's PT Bank Permata Tbk on Rating Watch Negative and affirmed its F1+(idn) national short-term rating. The ratings action came after Bangkok Bank PCL struck a deal to buy an 89.12% stake in Bank Permata from PT Astra International Tbk and Standard Chartered Bank.

* Separately, Fitch affirmed Bangkok Bank's long- and short-term issuer default ratings at BBB+ and F2, respectively. It also affirmed the bank's national long-term rating at AA+(tha). The outlook is stable.

* Moody's affirmed the Aa2 foreign-currency long- and P-1 short-term issuer ratings of Korea Housing Finance Corp. The outlook is stable.

* Fitch assigned PT Bank Shinhan Indonesia a national long-term rating of AAA(idn), with a stable outlook.

* Fitch affirmed India's long-term foreign-currency issuer default rating at BBB-, with a stable outlook.

* Fitch affirmed Shizuoka Bank Ltd.'s long- and short-term issuer default ratings at A and F1, respectively. The outlook is stable.

Dec. 19

* Moody's took ratings actions on 18 Vietnamese banks, concluding its reviews for downgrade that it initiated in October. Among other actions, the agency confirmed the long-term local and foreign currency deposit and issuer ratings of Asia Commercial Joint Stock Bank, Ho Chi Minh City Development JSCB and eight other local banks.

* Moody's affirmed the Aa3 long-term issuer ratings of each of Commonwealth Bank of Australia, Westpac Banking Corp., National Australia Bank Ltd. and Australia & New Zealand Banking Group Ltd. The ratings' outlooks of all the four banks remain stable.

Dec. 18

* S&P Global Ratings changed the outlooks of China International Capital Corp. Ltd. and unit China International Capital Corp. (Hong Kong) Ltd to stable from positive and affirmed the companies' BBB long-term and A-2 short-term issuer credit ratings.

* Moody's affirmed Bangkok Bank's ratings and placed Bank Permata's ratings on review for upgrade following the Thai bank's announcement of its proposed acquisition of a majority stake in the Indonesian lender.

* Fitch revised the outlook on Sri Lanka's long-term foreign-currency issuer default rating to negative from stable and affirmed the rating at B.

* Moody's lowered the outlooks on HSBC Bank (China) Co. Ltd. and HSBC Bank Australia Ltd. to negative from stable following a similar action on its parent, Hongkong & Shanghai Banking Corp. Ltd.

* Moody's confirmed Vietnam's local- and foreign-currency issuer and senior unsecured ratings at Ba3, concluding a review for downgrade initiated Oct. 9 over concerns about delayed payments on government obligations.

* Moody's affirmed HSBC Bank Malaysia Bhd.'s A1 long-term local-currency deposit rating and revised the outlook on the rating to negative from stable.

Dec. 17

* S&P downgraded the long-term issuer credit rating of Guangzhou Industrial Investment Fund Management Co. Ltd. to BBB from BBB+, with a stable outlook.

* Fitch affirmed the "bb" viability rating on India's Bank of Baroda and removed the rating from Rating Watch Negative. The agency affirmed the bank's long- and short-term issuer default ratings at BBB- and F3, respectively, with a stable outlook.

* Moody's lowered the outlooks on Hongkong & Shanghai Banking and Hang Seng Bank Ltd. to negative from stable, given the pressure on the banks' standalone credit profiles.

Dec. 16

* S&P revised the outlook on India's Shriram Transport Finance Co. Ltd. to negative from stable and affirmed its long- and short-term issuer credit ratings BB+ and B, respectively.

* Fitch revised its outlook on Macao to negative from stable, citing the Asian territory's growing economic, financial and sociopolitical ties with China, where economic growth is expected to weaken.

* Moody's assigned Baa1 long- and and Prime-2 short-term issuer ratings to China Merchants Securities Co. Ltd. The entity-level outlook on the company is stable.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.