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Asia-Pacific ratings roundup through March 23

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Asia-Pacific ratings roundup through March 23

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.

March 23

* Moody's revised Papua New Guinea's ratings outlook to negative from stable, citing increased government liquidity risks stemming from high gross borrowing needs and limited funding sources.

March 22

* S&P Global Ratings affirmed Rabobank New Zealand Ltd.'s long- and short-term issuer credit ratings at A/A-1. The outlook remains positive.

March 20

* Fitch Ratings affirmed China's long-term foreign-currency issuer default rating, citing the country's strong external finances, stable growth and low inflation, but warned that mounting trade tensions with the U.S. could dampen Fitch's baseline outlook for China.

* S&P affirmed Hong Kong's long- and short-term issuer credit ratings at AA+ and A-1+, respectively. The outlook is stable.

* A.M. Best removed from under review with developing implications and affirmed the financial strength and long-term issuer credit rating of Macau Life Insurance Co. Ltd. at B++ (Good) and "bbb," respectively. The outlook on these ratings is stable. Concurrently, the rating agency withdrew the ratings on the company's request.

March 19

* Moody's affirmed Industrial Bank of Korea's foreign-currency long- and short-term bank deposit ratings at Aa2 and P-1, respectively. The outlook is stable.

* Fitch affirmed the national insurer financial strength and long-term ratings of Sri Lanka-based HNB Assurance PLC and unit HNB General Insurance Ltd. at A(lka). The outlook on the ratings 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.