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Asia-Pacific ratings roundup through July 27


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Asia-Pacific ratings roundup through July 27

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.

July 26

* Moody's affirmed Sri Lanka's foreign currency issuer and senior unsecured ratings at B1 and maintained the negative outlook.

* Moody's affirmed local currency deposit ratings of Sri Lanka-based Bank of Ceylon, Hatton National Bank Plc and Sampath Bank PLC at B1/NP. The foreign currency issuer rating and deposit ratings of these banks are also affirmed at B1 and B2/NP respectively. The outlooks are negative.

July 25

* Moody's changed its outlook on Maldives' issuer rating to negative from stable and affirmed the country's B2 issuer and senior unsecured bond ratings.

* Moody's placed the long-term ratings of India's IDBI Bank Ltd. and its branch at the Dubai International Financial Centre on review for upgrade, on the back of Life Insurance Corp. of India's plan to increase its stake in the Indian lender to 51%.

* Moody's upgraded the long-term deposit ratings of South Korea's Jeonbuk Bank Co. Ltd. to A3 from Baa1, and affirmed the long- and short-term deposit ratings of Kwangju Bank Ltd. at A3 and P-2, respectively. The outlooks on both banks are stable.

* S&P Global Ratings assigned Taiwan's Hua Nan Commercial Bank Ltd. long- and short-term local currency issuer credit ratings of A- and A-2, respectively. The outlook on the long-term rating is stable.

* Moody's confirmed Suruga Bank Ltd.'s long-term local and foreign currency bank deposit ratings at A3, concluding the bank's review for downgrade initiated in April. The rating agency also affirmed the bank's short-term domestic and foreign currency bank deposit ratings at P-2. The outlook is negative.

July 24

* Fitch Ratings assigned South Korea-based KB Securities Co. Ltd. first-time long- and short-term issuer default ratings of A- and F1, respectively. The outlook on the long-term rating is stable.

July 23

* S&P revised its outlook on Japan-based Sony Bank Inc. to positive from stable, while affirming its A/A-1 long- and short-term issuer credit ratings.

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.