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Asia-Pacific ratings roundup through May 24

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Asia-Pacific ratings roundup through May 24

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.

May 24

*S&P Global Ratings withdrew JSCB for Investment and Development of Vietnam's BB- long-term and B short-term issuer credit ratings at its request. At the time of the withdrawal, the outlook on the bank's long-term rating was stable.

*Fitch Ratings affirmed PT Bank Danamon Indonesia Tbk's long- and short-term issuer default ratings at BBB and F2. The outlooks on the long-term ratings are stable.

*Fitch upgraded Far Eastern International Bank Ltd.'s long-term issuer default rating to BBB from BBB- and national long-term rating to A+(twn) from A(twn). Meanwhile, the rating agency cut Shanghai Commercial & Savings Bank Ltd.'s short-term issuer default rating to F2 from F1 while affirming all other ratings. Fitch also affirmed the ratings of Taichung Commercial Bank Co. Ltd., EnTie Commercial Bank Co. Ltd., King's Town Commercial Bank Co. Ltd., Sunny Bank Ltd. and Taipei Star Bank.

*Fitch upgraded Japan's short-term issuer default ratings to F1+ from F1, and those of Thailand to F1 from F2. The ratings were removed from under criteria observation.

May 23

*Fitch upgraded Union Bank of Colombo Plc's national long-term rating to BBB-(lka) from BB+(lka) and Cargills Bank Ltd.'s to A-(lka) from BB(lka), with stable outlooks. It affirmed the national long-term ratings of Amãna Bank PLC, Nations Trust Bank Plc, Pan Asia Banking Corp. Plc, SANASA Development Bank PLC, Housing Development Finance Corp. Bank of Sri Lanka.

May 22

*Moody's affirmed Macao's local and foreign-currency issuer rating at Aa3 and maintained the stable outlook.

*Fitch affirmed PT Sarana Multi Infrastruktur (Persero)'s long-term foreign and local-currency issuer default ratings at BBB, its short-term foreign-currency issuer default ratings at F2 and national long-term rating at AAA(idn). The outlook is stable.

*Fitch affirmed PT Sarana Multigriya Finansial (Persero)'s national long- and short-term ratings at AAA(idn) and F1+(idn), respectively. The outlook is stable.

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.