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.
Dec. 8
* Moody's revised its outlook on KEB Hana Bank and Shinhan Bank Co. Ltd. to stable from negative, placed Woori Bank's ratings under review for upgrade and maintained KB Kookmin Bank's outlook at stable.
* A.M. Best removed from under review with negative implications and affirmed the financial strength rating of B++ (Good) and the long-term issuer credit rating of "bbb" of National Insurance Co. Ltd. The outlook is negative.
* Fitch Ratings affirmed Hong Kong-based China Everbright Ltd.'s long- and short-term issuer default ratings at BBB and F2, respectively. The outlook is stable.
* Fitch affirmed Thai Life Insurance PCL's insurer financial strength rating at BBB+ (Good) and national insurer financial strength rating at AAA(tha). The outlooks are stable.
* A.M. Best affirmed the financial strength rating of B+ (Good) and the long-term issuer credit rating of "bbb-" of Adamjee Insurance Co. Ltd. The outlook remains stable.
Dec. 7
* S&P Global Ratings affirmed Taiwan Financial Holding Co. Ltd.'s long- and short-term issuer credit ratings at A+ and A-1, respectively, and subsequently withdrew the ratings on the issuer's request. The outlook prior to withdrawal was stable.
* Fitch affirmed New Zealand-based MARAC Insurance Ltd.'s insurer financial strength rating at BBB+ (Good). The outlook is stable.
* Moody's affirmed Malaysia's local and foreign currency issuer and senior unsecured bond ratings at A3, with a stable outlook.
* A.M. Best affirmed Meritz Fire & Marine Insurance Co. Ltd.'s financial strength and long-term issuer credit ratings at A- (Excellent) and "a-," respectively. The outlook is stable.
* A.M. Best affirmed Korean Reinsurance Co.'s financial strength and long-term issuer credit ratings at A (Excellent) and "a," respectively. The outlook is stable.
Dec. 6
* Moody's raised its outlook on Hong Kong's banking system to stable from negative due to expectations that banks' operating environment will benefit from stronger global economic growth in the next 12 to 18 months.
* Moody's upgraded Land Bank of the Philippines' baseline credit assessment and adjusted baseline credit assessment to "ba1" from "b2," and affirmed its other ratings. The outlook is stable.
* Moody's also raised its outlook on China Everbright Bank Co. Ltd. to stable from negative, while affirming the bank's long- and short-term deposit ratings at Baa2/P-2.
* Further, Moody's affirmed Japan's A1 local and foreign currency issuer ratings and local currency senior unsecured rating. The outlook is stable.
* S&P affirmed Japan-based Kyoei Fire & Marine Insurance Co. Ltd.'s insurer financial strength and issuer credit ratings at A-, with a stable outlook.
Dec. 4
* Moody's assigned Taikang Life Insurance Co. Ltd. an A3 insurance financial strength rating after it became the main life insurance operating subsidiary of Taikang Insurance Group Inc. The outlook on Taikang Life ratings is negative.
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.
