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Asia-Pacific ratings roundup through Dec. 1

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Asia-Pacific ratings roundup through Dec. 1

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.

Dec. 1

* S&P Global Ratings assigned China CITIC Bank Corp. Ltd. BBB+ long-term and A-2 short-term issuer credit ratings. The outlook on the long-term rating is stable.

* Moody's revised its outlook on Bank of Nanjing Co. Ltd. to stable from negative, while affirming the lender's ratings.

* Moody's affirmed the A3 insurance financial strength rating of Taiwan-based Chung Kuo Insurance Co. Ltd., Ltd., with a stable outlook.

Nov. 30

* S&P downgraded the long-term issuer credit ratings on six financial subsidiaries of Mitsubishi UFJ Financial Group Inc. following a ratings downgrade of the parent. The subsidiaries are Mitsubishi UFJ Securities Holdings Co. Ltd., Mitsubishi UFJ Lease & Finance Co. Ltd., Mitsubishi UFJ Morgan Stanley Securities Co. Ltd., MUFG Securities EMEA Plc, MUFG Securities Americas Inc. and Master Trust Bank of Japan Ltd.

* S&P lowered its outlook on the long-term issuer credit rating of SMBC Nikko Securities Inc. to stable from positive, following taking a similar action on parent Sumitomo Mitsui Financial Group Inc.

* S&P affirmed China Life Insurance Co. Ltd.'s ratings with a negative outlook and removed the ratings from CreditWatch negative.

* A.M. Best lowered the outlooks to stable from positive and affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of "a-" of Malaysian Reinsurance Bhd.

* A.M. Best affirmed the A- (Excellent) financial strength rating and the "a-" long-term issuer credit rating of Malaysia-based Labuan Reinsurance (L) Ltd. The outlook of these ratings is stable.

* S&P affirmed its AA-/ A-1+ issuer credit ratings on Hang Seng Bank Ltd. and A+/A-1 issuer credit ratings on unit Hang Seng Bank (China) Ltd. The outlooks on the long-term ratings are stable.

* S&P affirmed its long- and short-term issuer credit ratings on Axis Bank Ltd. at BBB- and A-3, respectively. The outlook is stable.

* S&P affirmed its local currency long-term issuer credit and financial strength ratings on Singapore-based India International Insurance Pte Ltd. at A-, with a stable outlook.

* S&P affirmed its long-term insurer financial strength and issuer credit ratings on Hong Kong-based China Life Insurance (Overseas) Co. Ltd. at A, with a negative outlook.

* Fitch Ratings affirmed PT Astra Sedaya Finance's long- and short-term issuer default rating at BBB- and F3, respectively. The rating agency also affirmed the national ratings of PT Astra Sedaya Finance, PT Federal International Finance and PT Toyota Astra Financial at AAA(idn) and F1+(idn). National ratings of PT Surya Artha Nusantara Finance were affirmed at AA(idn) and F1+(idn).

* Fitch affirmed Taiwan-based Chailease Finance Co. Ltd.'s long-term issuer default rating at BBB-. The rating agency also affirmed the national long-term rating of Chailease Finance and its major unit Fina Finance & Trading Co. Ltd. at A(twn). The outlook is Stable.

Nov. 29

* S&P lowered its long-term issuer credit rating on Mitsubishi UFJ Financial and its major banking subsidiaries, including Bank of Tokyo-Mitsubishi UFJ Ltd. Other affected units are Mitsubishi UFJ Trust & Banking Corp., Mitsubishi UFJ Investor Services & Banking (Luxembourg) SA and Bank of Tokyo-Mitsubishi UFJ (China) Ltd.

* S&P lowered its outlook on Sumitomo Mitsui Financial and its core banking subsidiaries' long-term issuer credit ratings to stable from positive. The affected subsidiaries are Sumitomo Mitsui Banking Corp., Sumitomo Mitsui Banking Corp. Europe Ltd. and Sumitomo Mitsui Banking Corp. (China) Ltd.

* S&P affirmed its A- long-term issuer credit rating on Japan-based Mizuho Financial Group Inc. The rating agency also affirmed its A/A-1 issuer credit ratings on the group's three core banking subsidiaries, Mizuho Bank Ltd., Mizuho Trust & Banking Co. Ltd., and Mizuho Bank (China) Ltd. The outlooks on the long-term issuer credit ratings are stable.

* S&P affirmed its long- and short-term issuer credit ratings on Thailand's Bank of Ayudhya PCL at BBB+ and A-2, respectively. The outlook is stable.

Nov. 28

* S&P raised the long-term issuer credit ratings of China's CITIC Securities Co. Ltd. and its Hong Kong-based unit, CITIC Securities International Co. Ltd., to BBB+ from BBB, and affirmed the short-term issuer credit ratings of the companies at A-2. The outlooks are stable.

* Moody's affirmed Export-Import Bank of Malaysia Bhd.'s foreign currency senior unsecured debt and issuer ratings at A3. The outlook on the ratings remains stable.

* S&P affirmed its A+/A-1 issuer credit ratings on Standard Chartered Bank (Hong Kong) Ltd., with a stable outlook.

* Fitch affirmed the long-term issuer default ratings of China Development Bank, Agricultural Development Bank of China, and Export-Import Bank of China at A+. The outlook is stable.

Nov. 27

* S&P affirmed its BBB+ local currency long-term insurer financial strength and issuer credit ratings on Thailand-based Muang Thai Life Assurance PCL. The outlook is stable.

* S&P affirmed its long- and short-term issuer credit ratings on Hongkong & Shanghai Banking Corp. Ltd. at AA- and A-1+, respectively. The outlook is stable.

* S&P affirmed its long- and short-term issuer credit ratings on Thailand-based TMB Bank PCL at BBB- and A-3, respectively. The outlook is stable.

* S&P affirmed its long- and short-term issuer credit ratings on Hong Kong-based AEON Credit Service (Asia) Co. Ltd. at BBB and A-2, respectively. The outlook on the long-term rating is stable.

* Moody's affirmed all the ratings of Industrial & Commercial Bank of China (Macau) Ltd., including long- and short-term local and foreign currency deposit ratings of A2/Prime-1.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.