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.
* Fitch Ratings lowered Pakistan's long-term foreign-currency issuer default rating to B- from B with a stable outlook, citing increased external financing risks amid low reserves and high external debt repayments.
* Moody's upgraded Government Housing Bank's baseline credit assessment and adjusted BCA to "ba2" from "ba3" and affirmed its foreign currency bank deposit ratings of Baa1/P-2. The outlook is stable.
* Moody's also affirmed the long- and short-term bank deposit ratings of India's Syndicate Bank Ltd. at Baa3 and Prime-3, respectively. The outlook is stable.
* S&P Global Ratings assigned China-based Hua Xia Bank Co. Ltd. long- and short-term issuer credit ratings of BBB- and A-3, respectively. The outlook on the long-term rating is stable.
* S&P and Moody's placed their respective ratings on India-based Power Finance Corp. Ltd. on review following the Indian government's announcement that it would sell a majority stake in power sector lender REC Ltd. to Power Finance.
* Moody's affirmed the issuer ratings on six leasing companies in China and Hong Kong, including the long- and short-term issuer ratings of China Development Bank Financial Leasing Co. Ltd., CCB Financial Leasing Corp. Ltd. and ICBC Financial Leasing Co. Ltd. at A1/P-1.
* Moody's also affirmed ORIX Corp.'s A3 long-term issuer rating and maintained the outlook at stable.
* Fitch assigned Taipei-based Chailease Holding Co. Ltd. long- and short-term issuer default ratings of BBB- and F3, respectively, with a stable outlook.
* S&P raised its outlook on Australia's Macquarie Group Ltd. to positive from stable, as well as the outlooks on its units, Macquarie Bank Ltd. and Macquarie International Finance Ltd., to developing from negative.
* S&P affirmed the BBB+ long-term and A-2 short-term issuer credit ratings of China Orient Asset Management Co. Ltd. and its Hong Kong-based unit, China Orient Asset Management (International) Holding Ltd. The outlooks are positive.
* Moody's affirmed the B3 corporate family rating of Home Credit Vietnam Finance Co. Ltd., with a stable outlook.
* Moody's affirmed the foreign- and local-currency long-term issuer ratings of South Korea's Shinhan Card Co. Ltd. and Woori Card Co. Ltd. at A2 and A3, respectively. The outlook for both entities is stable.
Descriptions in this news article were not prepared by S&P Global Ratings.