Moody's Investors Service
Asia Pacific Weekly

March 28-April 5, 2012

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





Rating Methodologies

European debt crisis

[Apr 2] Diverging Central Bank Collateral Rules Are Credit Negative for Euro Area Sovereigns and Banks

[Apr 2] Ireland's Promissory Note Transaction Is Credit Positive

[Apr 2] Spain’s Guarantee of Regions’ Debt Would Be Credit Positive

[Apr 2] Drop in Spanish Mortgage Lending Erodes Covered Bond Protection

[Apr 2] UK Committee Urges More Capital at Banks, a Credit Positive

 

For additional information on The Euro Area Sovereign Crisis and Affected Credits please visit: www.moodys.com/eusovereign

 
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Research
 

Lower Growth Target Reflects China's New Realities
[Mar 29] China's authorities have begun to prepare for a rebalancing of the economic roles of the public and private sectors. If successful, this would imply a fundamental realignment in the country's political economy over the next decade.

Moody's Weekly Credit Outlook
[April 2] Sharp's Alliance with Hon Hai; Jetstar's Toehold in China for Qantas; Increase in Foreign Debt Limit for Foreign Banks in China; Inspection of Korean Banks’ Household and SME Loans; and more.

 
 
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Rating Actions
 

Asia

[Mar 30] Moody's withdraws provisional ratings on Barclays ELN

[April 3] Moody's withdraws provisional ratings on Credit Suisse ELN

[Apr 2] Moody's withdraws provisional ratings on UBS ELN

 
CHINA

[Mar 28] Moody's downgrades Renhe to B3; outlook negative

[Mar 30] Moody's assigns Baa1 to USD MTN drawdown of China Resources Gas

[Mar 30] Moody's downgrades Powerlong to B3; outlook negative

 

HONG KONG

[Apr 3]  Moody's downgrades Fosun bond rating; ratings remain on review for possible downgrade

[Apr 3]  Moody's assigns Baa1 for proposed bonds guaranteed by Beijing Enterprises

 

KOREA

[Apr 2] Moody's assigns A1 to Samsung Electronics America's USD notes

 

MONGOLIA

[Mar 28] Moody's assigns Ba3 to XacBank's proposed USD notes

 

NEW ZEALAND

[Apr 3] Moody's assigns definitive rating to Westpac New Zealand Series 2012-1 covered bonds

 

SINGAPORE

[Apr 2] Moody's: Multiple rating actions on DBS Bank and Bank Danamon Indonesia

 

SRI LANKA

[Apr 2] Moody's assigns B1 rating to Sri Lanka's Hatton National Bank

 
 
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Announcements
 

CHINA

[Mar 29] Moody's changes outlook for Daqing Dairy to negative; will withdraw B2 rating

[Mar 30] Moody's: No immediate rating impact from Qinfa's 2011 results

 
HONG KONG

[Mar 30] Moody's revises Sun Hung Kai Properties' outlook to negative

[Mar 30] Moody's comments on Hutchison's 2011 results

 

INDIA

[Mar 30] Moody's Disclosures on Credit Rating of State Bank of India

 

INDONESIA

[Apr 2] Moody's: Adaro's strong operating cash flow drives vertical integration

 

KOREA

[Apr 2] Moody's changes outlook on Korea's A1 rating to positive

[Apr 5] Moody's Changes the outlook for Daejeon Metropolitan City's A1 rating to positive from stable

 

Those rated entities affected by the Korean sovereign announcement were:

 

[Apr 2] Moody's revises outlook for six Korean Government-related financial institutions to positive

[Apr 2] Moody's: No rating impact on 5 Korean banks rated at A1 from sovereign action

 

MONGOLIA

[Mar 28] Correction to Text, March 26 2012 Release: Moody's reviews four Mongolian banks' ratings for downgrade

 

PHILIPPINES

[Mar 28] Moody's comments on tender offer for Manila Cavite's USD notes

 

SINGAPORE

[Mar 30] Moody's Disclosures on Credit Rating of United Overseas Bank Limited

 

THAILAND

[Mar 28] Moody's: Heightened regulatory uncertainty surrounding True's 3G services

 

 

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Rating Methodology
 

[Mar 30] Incorporation of Joint-Default Analysis into Moody's Bank Ratings: Global Methodology

 

 

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Moody's Events

 

FinanceAsia 3rd Annual APAC Debt Investor Forum

Hong Kong, April 12-13, 2012

 

Moody's & ICRA Joint Briefing: Corporate Ratings Outlook for India and Asia-Focus on India's Power Sector

Mumbai, April 16, 2012

New Delhi, April 19, 2012

 

Outlook for China and Hong Kong Banking Systems

Hong Kong, April 19, 2012

 

China Banking System Outlook

Singapore, April 20, 2012

 

INFINZ Finance & Capital Markets Forum 2012

Auckland, May 9, 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 28] Indonesian Corporates Gradual Benefit From Sovereign Upgrade But Risks Remain

[Apr 3] Moody's Changes Outlook on Korea's A1 Rating to Positive

 

 

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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
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