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Asia-Pacific ratings roundup through March 15

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Asia-Pacific ratings roundup through March 15

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 14

* Fitch Ratings affirmed Indonesia's long- and short-term foreign and local currency issuer default ratings at BBB and F2, respectively. The outlook is stable.

* Moody's downgraded Standard Chartered Bank (Singapore) Ltd.'s long-term local and foreign currency issuer and deposit ratings to A1 from Aa3. The outlook was revised to stable from review for downgrade.

March 13

* Moody's upgraded the baseline credit assessment of PT Bank Permata Tbk to "ba1" from "ba2," mainly due to its improved stand-alone credit profile. The rating agency also affirmed the bank's long-term local and foreign currency deposit ratings at Baa3, short-term local and foreign currency deposit ratings at P-3 and adjusted baseline credit assessment at "ba1." The outlook is stable.

* Moody's affirmed Minsheng Financial Leasing Co. Ltd.'s Baa3/P-3 issuer ratings and "b1" stand-alone assessment. The outlook is stable.

March 12

* Fitch affirmed China Orient Asset Management Co. Ltd. subsidiary China Orient Asset Management (International) Holding Ltd.'s long-term foreign- and local-currency issuer default ratings at A-. The outlook is stable.

March 11

* Moody's upgraded the long-term local and foreign currency deposit ratings of Central Bank of India and Indian Overseas Bank to Ba2 from Ba3. The rating agency also affirmed the local and foreign currency deposit ratings of Bank of India, Oriental Bank of Commerce, Union Bank of India and Canara Bank at Baa3/P-3.

* Fitch Ratings Indonesia affirmed the national long-term ratings of PT Bank Sinarmas Tbk at A(idn) and PT Sinar Mas Multifinance at A-(idn). The outlooks are 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.