Asia Pacific

Highlights

• 19 Feb 2013
  • Annual report on Western Australia
    The Aaa long-term debt and issuer ratings reflect the state’s ample budgetary flexibility, supported by a robust resource-based economy. However, the ratings outlook is negative, given the widening deficit and deteriorating debt metrics. Moreover, improvements in the state’s fiscal performance will be challenged by increasing volatility in revenue, particularly because of its reliance on iron ore royalties… Press Release l Full Report
• 17 Dec 2012
  • Credit quality of Chinese regional & local governments may worsen through use of trust products
    Chinese regional and local governments (RLGs) have increased their use of trust products in 2012 for infrastructure investment, because of the shortage of other financing options. These products are akin to debt obligations. Moreover, additional pressure on RLG budgets could emerge, owing to higher costs for the short tenors and high coupon rates of trust products... Press Release l Full Report​​
• 12 Dec 2012
  • Proposals for Chinese regional/local governments are positive
    The proposed reforms outlined by China’s Finance Minister on the fiscal practices of the country's regional and local governments (RLGs) are credit positive for the RLGs and will enhance their financial transparency and budget flexibility. Early indications are that RLGs will be given greater controls over their own source revenues… Press Release l Full Report