Moody's Investors Service
Asia Pacific Weekly

March 21-28, 2012

The next edition of Moody's Asia Pacific Weekly is scheduled for Thursday (April 5). We will return to regular Wednesdays thereafter.

Moody's Asia Pacific Weekly keeps you up-to-date on selected global and all Asia specific ratings, research, training and events from Moody's.

To access the information within this email we ask that you register to Moodys.com. Registration is complimentary.

 
Contents





 
Research
 

Global Paper and Forest Products
[Mar 27] Our outlook for the global paper and forest products industry is negative. This outlook reflects our expectations for the fundamental business conditions for the industry over the next 12 to 18 months.

Indonesian Corporates Issuers
[Mar 26] Moody's decision to upgrade Indonesia's sovereign rating to investment grade earlier this year will benefit the country's corporates gradually as they remain constrained by issues that are more specific to a company or the industry as a whole.

Proposed Covered Bond Rules in Singapore
[Mar 21] A consultation paper on covered bonds by the Monetary Authority of Singapore includes proposals that would provide protection to investors in the areas of quality covered assets, as well as through specifying minimum overcollateralization levels and a requirement for ongoing monitoring of risk.

Moody's Weekly Credit Outlook
[Mar 26] China’s First Shale-Gas Production-Sharing Contract; Vedanta’s Bid for Cash-Strapped Indian Government’s Metals Stakes; Australian Resources Tax for Major Miners; Merger of Australian Electricity Networks; Bank Indonesia’s Efforts To Slow Growth in Motor Vehicle and Housing Loans; Vietnam Central Bank’s New Liquidity Requirement; Increasing Investments in Banks for Chinese Insurers; Investment in AIA Group for Nippon Life; and more.

 
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Rating Actions
 

AUSTRALIA

[Mar 26] Moody's assigns (P) Aaa (sf) to IDOL Trust Series 2012-1 RMBS

[Mar 26]

Moody's assigns definitive Aaa ratings to Series 2012-5 and Series 2012-6 of ANZ's Global Covered Bond Programme

 

CHINA

[Mar 21] Moody's assigns (P) Baa1 rating to China Resources Gas MTN program

 

HONG KONG

[Mar 23] Moody's downgrades Texhong to Ba3; outlook negative

 

KOREA

[Mar 21] Moody's downgrades Korea's Jeonbuk Bank to Baa1
[Mar 26] Moody's assigns A1 rating to KNOC's USD notes

 

MONGOLIA

[Mar 26] Moody's assigns definitive B1 to Mongolian Mining Corp's notes

 

PHILIPPINES

[Mar 26] Moody's withdraws ratings of the Development Bank of the Philippines

 

SINGAPORE

[Mar 22] Moody's assigns a definitive A3 rating to CMT's EMTN drawdown
[Mar 26] Moody's assigns a definitive B2 rating to Alam Sutera's senior unsecured notes

 
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Announcements
 

AUSTRALIA

[Mar 22] Moody's reviews Novacare Solutions' rating for possible downgrade

[Mar 22]

Moody's places on review for possible downgrade two Australian structured finance securities guaranteed by Assured Guaranty

[Mar 23] Moody's comments on Woodside's LNG project announcement
[Mar 26] Moody's confirms Westfield's ratings; Outlook negative
[Mar 28] Moody's reviews Bank of Queensland for downgrade

 

CHINA

[Mar 21] Moody's changes West China Cement's outlook to negative
[Mar 26] Moody's: No rating impact from Longfor's financial results
[Mar 26] Moody's comments on CITIC Resources' 2011 results

 

HONG KONG

[Mar 21] Moody's comments on Pacnet's full-year results for 2011
[Mar 22] Moody's revises Franshion's outlook to negative
[Mar 23] Moody's: Executive's arrest has no immediate rating impact on SHKP
[Mar 23] Moody's comments on COLI's 2011 results
[Mar 23] Moody's continues to review ENN Energy for downgrade

 

INDIA

[Mar 21] Moody's confirms Core Education's B1 rating; outlook negative

 

MONGOLIA

[Mar 26] Moody's reviews four Mongolian banks' ratings for downgrade

 

PHILIPPINES

[Mar 22] Moody's affirms Philippine National Bank and Allied Banking Corp

 

SINGAPORE

[Mar 21] Moody's Disclosures on Credit Rating of DBS Bank Ltd.

 

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Moody's Events

 

Teleconference: Indonesian Corporates Gradual Benefit From Sovereign Upgrade But Risks Remain
Asia Pacific, March 28, 2012

Moody's & ICRA Joint Briefing: India and Beyond: Sovereign, Banking and Credit Trends
New Delhi, April 2, 2012
Mumbai, April 3, 2012

FinanceAsia 3rd Annual APAC Debt Investor Forum
Hong Kong, April 12-13, 2012

Outlook for China and Hong Kong Banking Systems
Hong Kong, April 19, 2012

China Banking System Outlook
Singapore, April 20, 2012

Moody's & CCXI 5th Annual Credit Risk Conference: Impact On China of a Changing Global Credit Paradigm
Beijing, May 29, 2012
Shanghai, May 31, 2012

Click below to access teleconference / webcast replay. (*Free registration is required)

[Mar 21] The Impact of the New Global Finance Company Methodology in Asia

[Mar 21] India's Budget - Credit Negative for the Sovereign, Mixed Impact on Banks and Corporates

 

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Moody's Training Seminars
 

HONG KONG
Interest Rate Swaps: Pricing, Risk Management and Structured Applications, September 10-11, 2012
High Yield and Leveraged Finance Credit Analysis, October 29-30, 2012
Corporate Credit Rating Analysis, November 5-7, 2012
Advanced Corporate Credit Analysis, December 10-12, 2012

SINGAPORE
High Yield and Leveraged Finance Credit Analysis, May 15-16, 2012
Corporate Credit Rating Analysis, July 11-13, 2012
Fundamentals of Corporate Credit, September 18-21, 2012
Advanced Corporate Credit Analysis, September 26-28, 2012
 
SYDNEY
Corporate Credit Rating Analysis, May 1-3, 2012
Fundamentals of Corporate Credit, July 31-August 3, 2012
 
 TAIPEI
 Corporate Credit Rating Analysis, September 4-6, 2012

 

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Contact Us
         
Paul Ovnerud-Potter
Vice President
Australia & New Zealand
61.2.9270.8115
Christina Maynes
Senior VP & Representative Director
South & Southeast Asia
65.6398.8338
Yasushi Kawasaki
Vice President
Japan
81.3.5408.4041
     
   
Leon Liang
Vice President
Greater China
86.10.6319.6566
Soo-Jung Kim
Representative Director
Korea
82.2.787.2273
Asia Pacific Client Desk
Research & Subscriptions
65.6398.8308
852.3551.3077