S&P Global Market Intelligence presents a summary of ratings actions on Asia-Pacific financial institutions and economies.
* S&P Global Ratings upgraded the long-term issuer rating of Cambodia's Advanced Bank of Asia Ltd. to B+ from B due to its material and growing market share of loans and deposits, as well as above-average profitability. The outlook is stable. The bank's short-term issuer credit rating was affirmed at B.
* S&P revised its outlook on Thailand to positive from stable, saying political uncertainty in the country has started to ease following the return of an elected government earlier in 2019. The agency affirmed Thailand's long- and short-term foreign currency sovereign credit ratings at BBB+/A-2.
* S&P raised the outlooks on Bangkok Bank PCL and Bank of Ayudhya PCL to positive from stable after taking a similar rating action on Thailand's sovereign rating. The agency also affirmed the two banks' BBB+ long-term and A-2 short-term issuer credit ratings.
* Separately, S&P upgraded its long-term issuer credit ratings on Macquarie Group Ltd. and unit Macquarie Financial Holdings Pty. Ltd. to BBB+ from BBB. It also raised similar ratings on Macquarie Bank Ltd. to A+ from A. The outlook on all the long-term issuer credit ratings is stable.
* Moody's assigned first-time Baa2/P-2 long-term and short-term foreign currency issuer ratings to Korea Investment & Securities Co. Ltd. The outlook is stable.
* S&P Global Ratings affirmed Japan-based Keiyo Bank Ltd.'s A- long-term and A-2 short-term issuer credit ratings, with a stable outlook on the long-term rating.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.