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 Registration is complimentary.


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:

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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


[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


[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



[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



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



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



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



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



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

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[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


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

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



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



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



[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



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



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



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



[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


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



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



Corporate Credit Rating Analysis, May 1-3, 2012

Fundamentals of Corporate Credit, July 31-August 3, 2012



 Corporate Credit Rating Analysis, September 4-6, 2012



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Contact Us
Paul Ovnerud-Potter
Vice President
Australia & New Zealand
Christina Maynes
Senior VP & Representative Director
South & Southeast Asia
Yasushi Kawasaki
Vice President
Leon Liang
Vice President
Greater China
Soo-Jung Kim
Representative Director
Asia Pacific Client Desk
Research & Subscriptions