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Announcement:

Moody's: Most APEC members' credit profiles resilient to global economic and financial volatility

 The document has been translated in other languages

Global Credit Research - 05 Nov 2014

Singapore, November 05, 2014 -- Moody's Investors Service says that the outlooks for most Asia Pacific Economic Cooperation (APEC) members' credit ratings are stable, reflecting their resilience to economic and financial volatility. This resilience owes, in part, to the economic benefits derived from APEC's promotion of trade and investment over the last 25 years.

Moody's analysis is contained in its just-released report titled "Sovereign Monitor: APEC CEO SUMMIT, BEIJING 2014", published ahead of Moody's participation in the APEC CEO Summit in Beijing on 8 -- 10 November.

The publication is a compendium that brings together recent research outlining Moody's assessment of the creditworthiness of APEC's members amid changing global economic conditions and in the context of continued regional integration.

APEC's 21 member economies account for approximately half of global GDP and about 40% of global trade. The world's three largest economies are APEC members, and nine of the top 20 global economies belong to the forum. Consequently, given their size and international integration, APEC economies are both drivers of and driven by global trends.

According to Moody's, growth trends are uneven among the larger APEC economies.

The economic recovery in the US is expected to gather pace over the next 12 months and growth in China is expected to remain in a robust range, although it will soften from average levels witnessed during its three decades of rapid expansion. On the other hand, Japan's growth rate will remain subdued, and Russia is expected to fall into recession in 2015.

Among other APEC members, Moody's expects GDP growth to remain largely in line with or above that of similarly rated peers.

However, given an uncertain growth outlook within some of APEC's major economies and non-APEC trading partners such as the EU, Moody's report also says that APEC economies with a large share of trade in GDP are vulnerable to lower demand for their exports in 2015, with a subset of members particularly exposed to global commodity price declines. Lower exports levels in turn could dampen the outlook for both corporate profitability and income growth.

In addition to trade vulnerabilities, the transmission of global financial turbulence to the domestic economy remains a risk for many APEC economies and complicates domestic policy choices.

While uncertainties around the global economic, financial and political outlook in 2015 present credit challenges, Moody's expects that APEC's agenda of continued regional integration, economic reform, and infrastructure development, if implemented, will catalyze new sources of growth, strengthen the institutional profiles of APEC members and attract investment by bolstering international competitiveness.

Moody's rates 20 of APEC's 21 member economies. Of these, Moody's has assigned stable outlooks to the ratings of 17 APEC members, a positive outlook to two (Philippines and Malaysia), and has a negative rating outlook for one (Russia).

Subscribers can access the report at http://www.moodys.com/viewresearchdoc.aspx?docid=PBC_176210.

NOTE TO JOURNALISTS ONLY: For more information, please call one of our global press information hotlines: New York +1-212-553-0376, London +44-20-7772-5456, Tokyo +813-5408-4110, Hong Kong +852-3758-1350, Sydney +61-2-9270-8141, Mexico City 001-888-779-5833, São Paulo 0800-891-2518, or Buenos Aires 0800-666-3506. You can also email us at mediarelations@moodys.com or visit our web site at www.moodys.com.

This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.

Atsi Sheth
Senior Vice President
Sovereign Risk Group
Moody's Investors Service Singapore Pte. Ltd.
50 Raffles Place #23-06
Singapore Land Tower
Singapore 48623
Singapore
JOURNALISTS: (852) 3758 -1350
SUBSCRIBERS: (852) 3551-3077

Thomas J Byrne
Senior Vice President
Sovereign Risk Group
JOURNALISTS: (852) 3758 -1350
SUBSCRIBERS: (852) 3551-3077

Releasing Office:
Moody's Investors Service Singapore Pte. Ltd.
50 Raffles Place #23-06
Singapore Land Tower
Singapore 48623
Singapore
JOURNALISTS: (852) 3758 -1350
SUBSCRIBERS: (852) 3551-3077

Moody's: Most APEC members' credit profiles resilient to global economic and financial volatility
No Related Data.
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