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Asia-Pacific ratings roundup through May 11

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Asia-Pacific ratings roundup through May 11

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 11

* Moody's assigned Bangladesh-based Mercantile Bank Ltd. long-term foreign- and local-currency deposit and issuer ratings of B1, with a stable outlook.

* S&P Global Ratings raised its long-term issuer credit rating on PT MNC Investama Tbk. to B- from D. The outlook is stable.

May 10

* Fitch Ratings affirmed the long-term issuer default ratings of South Korea-based Woori Bank, KEB Hana Bank and Shinhan Card Co. Ltd. at A-. The long-term issuer default ratings of KB Kookmin Bank and Shinhan Bank Co. Ltd. were affirmed at A. The outlooks on all the ratings are stable.

* Fitch upgraded the national long- and short-term ratings of Taiwan-based Grand Fortune Securities Co. Ltd. to A-(twn) and F1(twn), respectively, from BBB+(twn) and F2(twn). The rating agency also upgraded the national short-term ratings of Oriental Securities Corp. to F1(twn) from F2(twn), and affirmed the ratings of Concord Securities Co. Ltd., Horizon Securities Co. Ltd. and TaChan Securities Co. Ltd.

May 9

* Fitch lowered its assessment of Hong Kong banks' operating environment to "a" with a stable trend from "a+" with a negative trend, citing the developing influence of links between the city and China.

May 8

* Fitch upgraded the long-term issuer default ratings of OCBC Wing Hang Bank Ltd. to AA- from A+, and the short-term issuer default ratings of China CITIC Bank International Ltd. and Chong Hing Bank Ltd. to F2 from F3.

May 7

* Fitch affirmed long-term issuer default ratings of China Merchants Bank Co. Ltd. units CMB Financial Leasing Co. Ltd. and CMB International Leasing Management Ltd. at BBB. The outlooks are stable.

* Fitch affirmed China Great Wall Asset Management Co. Ltd.'s long-term foreign- and local-currency issuer default ratings at A. The outlook is stable.

May 6

* Fitch lowered the outlooks on Commonwealth Bank of Australia and its New Zealand-based unit, ASB Bank Ltd., to negative from stable given potential risks to the parent from the implementation of its ambitious plan to address shortcomings in its operational risk controls and governance.

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.