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Asia-Pacific ratings roundup through Oct. 5

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Asia-Pacific ratings roundup through Oct. 5

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.

Oct. 5

* Fitch Ratings plans to withdraw its ratings on Taiwan-based KGI Bank Co. Ltd. on or about Nov. 5 for commercial reasons. The rating agency currently has BBB and F3 long- and short-term issuer default ratings on the bank, respectively, with a stable outlook.

Oct. 4

* Fitch assigned Development Bank of Mongolia LLC long- and short-term foreign-currency issuer default ratings of B. The outlook on the long-term ratings is stable.

* Moody's downgraded Suruga Bank Ltd., with various ratings to remain on review for another downgrade, following a real estate investment lending scandal. The rating agency lowered the bank's long- and short-term bank deposit ratings to Ba2 and Not Prime, respectively, from Baa1 and P-2. The bank's baseline and adjusted baseline credit assessments are now at "ba3" from "baa3."

Oct. 3

* Moody's assigned Infosys Ltd. an A3 local-currency issuer rating, with a stable outlook.

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.