S&P Global Market Intelligence presents a summary of ratings actions on Asia-Pacific financial institutions and economies. Ratings actions are listed by announcement date in reverse chronological order.
March 2
* Fitch Ratings affirmed Taiwan-based Hua Nan Commercial Bank Ltd.'s long-term issuer default rating at A- and its viability rating at "bbb." The outlook is stable.
* A.M. Best affirmed BNZ Life Insurance Ltd.'s financial strength and long-term issuer credit rating at A (Excellent) and "a," respectively. The outlook is stable
March 1
* Fitch affirmed the national long-term ratings of Taiwan Cooperative Financial Holding Co. Ltd. units Taiwan Cooperative Bills Finance Corp. Ltd. and Taiwan Cooperative Securities Co. Ltd. at AA+(twn). It affirmed the long-term issuer default rating of Taiwan Cooperative Bills Finance at A. The outlook is stable.
* Fitch Ratings Indonesia affirmed Indonesia-based PT Asuransi Adira Dinamika's national insurer financial strength rating at AA(idn). The outlook is stable.
Feb. 28
* S&P Global Ratings removed the ratings of Japan-based BOT Lease Co. Ltd. from CreditWatch negative and affirmed its long- and short-term ratings at BBB and A-2, respectively. The outlook on the long-term rating is negative.
* Fitch assigned Sri Lanka-based People's Insurance PLC a national insurer financial strength rating and a national long-term rating of A+(lka), with a stable outlook.
* Fitch affirmed the long-term issuer default ratings of Mongolia's State Bank LLC at B-, with a positive outlook. The rating agency concurrently withdrew all its ratings on the lender for commercial reasons.
* Fitch affirmed Taiwan-based Bank of Kaohsiung Co. Ltd.'s national long- and short-term ratings at AA-(twn) and F1+(twn), respectively. The outlook is stable.
* A.M. Best affirmed General Insurance Corp. of India's financial strength and the long-term issuer credit ratings at A- (Excellent) and "a-," respectively. The outlook is stable.
Feb. 27
* Moody's revised its outlook on IDBI Bank Ltd. to positive from stable and affirmed the long-term local and foreign currency bank deposit rating of the bank at B1.
* Fitch upgraded the viability ratings of Military Commercial Joint Stock Bank, Joint Stock Commercial Bank for Foreign Trade of Vietnam and Vietnam Joint Stock Commercial Bank for Industry & Trade due to improvement in their asset quality amid an enhanced operating environment for banks in Vietnam. Among other actions, the rating agency upgraded Military Bank's long-term issuer default rating to B+ from B.
* S&P affirmed the A+ financial strength and long-term issuer credit ratings on the core operating companies of Tokio Marine Holdings Inc. The units are Tokio Marine & Nichido Fire Insurance Co. Ltd., Tokio Marine & Nichido Fire Insurance Co. Ltd. (New Zealand Branch), Tokio Marine & Nichido Life Insurance Co. Ltd., Tokio Marine America Insurance Co., Tokio Marine Kiln Insurance Ltd., Tokio Millennium Re AG and Tokio Millennium Re (UK) Ltd. The outlooks remain stable.
* Fitch affirmed Seoul Guarantee Insurance Co. Inc.'s insurer financial strength rating at AA- (very strong). The outlook is stable.
Feb. 26
* S&P assigned Bangladesh-based BRAC Bank Ltd.'s long- and short-term issuer credit ratings of B+ and B, respectively. The outlook on the long-term rating is stable.
* Fitch affirmed the long-term issuer default ratings of Hyundai Capital Services Inc. and Hyundai Card Co. Ltd. at BBB+ and BBB, respectively. The outlook on the long-term ratings remains stable.
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