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Asia-Pacific ratings roundup through June 29


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Asia-Pacific ratings roundup through June 29

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.

June 29

* S&P Global Ratings affirmed Hong Kong Mortgage Corp. Ltd.'s long- and short-term issuer credit ratings at AA+ and A-1+, with a stable outlook.

June 28

* Moody's assigned Industrial & Commercial Bank of China (Macau) Ltd. local and foreign currency counterparty risk ratings of A1 and P-1, respectively. The rating agency also upgraded the bank's adjusted baseline credit assessment to "baa1" from "baa2." The outlook is stable.

* Moody's affirmed the deposit ratings of nine Indonesian banks and upgraded the baseline credit assessments of five of them. The rating agency raised the baseline credit assessments of PT Bank Negara Indonesia (Persero) Tbk, PT Bank Danamon Indonesia Tbk, PT Bank Tabungan Negara (Persero) Tbk, PT Bank CIMB Niaga Tbk and PT Bank Pan Indonesia Tbk.

* Moody's assigned counterparty risk ratings to nine Mongolian banks, including Golomt Bank LLC, Khan Bank LLC, State Bank LLC, Trade & Development Bank of Mongolia LLC and Development Bank of Mongolia LLC. Meanwhile, it downgraded Development Bank of Mongolia's counterparty risk assessment to B3(cr) from B2(cr).

* Moody's assigned counterparty risk ratings to 16 South Korean banks and Korea Securities Finance Corp. The banks include Woori Bank, Shinhan Bank Co. Ltd., KEB Hana Bank, Korea Development Bank and Industrial Bank of Korea.

* Moody's affirmed Sumitomo Mitsui Financial Group Inc.'s long- and short-term local and foreign currency issuer ratings were affirmed at A1 and Prime-1, respectively. It also affirmed the long-term issuer and bank deposit ratings of Sumitomo Mitsui Banking Corp. at A1.

* Moody's affirmed ICBC International Holdings Ltd.'s issuer ratings at A2/P-1, with a stable outlook. At the same time, Moody's withdrew the outlook on ICBC International's long-term issuer ratings for business reasons.

June 26

* Moody's assigned counterparty risk ratings to 19 Chinese banks, as well as the local subsidiaries of four overseas lenders. The Chinese banks include Agricultural Bank of China Ltd., Bank of China Ltd., China Construction Bank Corp., Industrial & Commercial Bank of China Ltd. and Bank of Communications Co. Ltd.

* Moody's assigned counterparty risk ratings to 11 Taiwanese banks, including Land Bank of Taiwan Co. Ltd., Mega International Commercial Bank Co. Ltd., Bank of Taiwan, Cathay United Bank Co. Ltd., CTBC Bank Co. Ltd. and Chang Hwa Commercial Bank Ltd.

* Moody's upgraded the baseline credit assessments and adjusted baseline credit assessments of Land Bank of Taiwan and Mega International Commercial Bank and affirmed their ratings.

* S&P affirmed Trade & Development Bank of Mongolia's long- and short-term issuer credit ratings at B- and B, respectively. The outlook remains stable.

* Moody's affirmed Hyundai Capital Services Inc.'s long-term foreign currency issuer rating at Baa1, with a stable outlook.

* Moody's affirmed all ratings and assessments of CIMB Bank Bhd., CIMB Islamic Bank Bhd. and CIMB Group Holdings Bhd. The outlook remains stable.

June 25

* S&P affirmed AMP Bank Ltd.'s A long- and A-1 short-term issuer and issue credit ratings and removed the ratings from CreditWatch. The outlook is stable.

* Fitch Ratings affirmed the long-term issuer default ratings on Korea Development Bank, Export-Import Bank of Korea and Industrial Bank of Korea at AA-, with a stable outlook.

* Separately, Fitch affirmed South Korea-based NongHyup Bank's long-term issuer default and viability ratings at A- and "bbb," respectively. The outlook is stable.

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