Hong Kong, August 13, 2009 — Moody’s Investors Service says the rebound in China’s property market in the first half of 2009 is unlikely to result in improvement in its ratings for Chinese developers. A recently published comment by Moody’s notes that the developers have had a positive first half off the back of a [...]
Singapore, August 11, 2009 — Moody’s Investors Service says that the outlook for the Indonesian banking system is negative over the next 12-18 months, reflecting Moody’s assumptions for fundamental credit conditions over this timeframe. “Over the next 12 months, Indonesian banks will face increasing pressures — particularly on asset quality — but will fare relatively [...]
Tokyo, August 07, 2009 — Moody’s Investors Service has placed on review for possible upgrade its B1 issuer and senior unsecured long-term debt ratings for Nippon Residential Investment Corporation (NRI). This review follows the announcement on August 6, 2009 by Advance Residence Investment Corporation (ADR) and NRI on their basic agreement of an M&A. Previously, [...]
Approximately US$380 million of debt securities affected Hong Kong, August 04, 2009 — Moody’s Investors Service has downgraded the corporate family rating of Titan Petrochemicals Group Limited (“Titan”) to Caa3 from Caa1 and its senior unsecured bond rating to Ca from Caa2. The ratings outlook is negative. This action follows Titan’s announcement that it has [...]
Hong Kong, August 03, 2009 — Moody’s Investors Service has today upgraded the local currency corporate family rating for PT Adaro Indonesia (“Adaro”) to Ba1 from Ba2. “The upgrade acknowledges Adaro’s strong and improving operating and financial profile which has been aided by increasing ASP’s as well as efforts to improve efficiencies and reduce costs,” [...]
Tokyo, July 29, 2009 — Moody’s Investors Service announced today that it has downgraded to Aa1 from Aaa the Class 3 trust certificates of the Tokyo Metropolitan CLO Ninth transaction. The trust certificates had been under review for possible downgrade since May 19, 2009. At the same time, Moody’s says that it has affirmed the [...]
Tokyo, July 29, 2009 — Moody’s Investors Service announced today that it has downgraded the rating of the credit default swap (“CDS”) entered into between JPMorgan Chase Bank NA (“JPMorgan”) and Alto Credit Products Co., Ltd. This CDS primarily references global corporate entities. The rating action taken today is the result of the deteriorating credit [...]
Singapore, July 27, 2009 — Moody’s Investors Service sees no rating impact from IOI Corporation Berhad’s (IOI) announcement of a proposed equity offering in the form of a renounceable rights issue for a gross amount of RM1.22 billion. IOI ratings are Baa1 with negative outlook. The proposed renounceable rights issue — still subject to approval [...]
London, 24 July 2009 — In a Special Comment published today, Moody’s Investors Service highlights that there is significant room for improvement in the risk governance of many large banks. With a focus on 35 large banks in Europe, North America and Asia-Pacific the report reviews risk governance practices, covering risk committee structure and frequency [...]
Sydney, July 23, 2009 — Moody’s Investors Service says that rating downgrades for Australian prime and non-conforming RMBS are unlikely for now as collateral in both Prime and Non Conforming sectors are performing within expectations. “Moreover, despite a long term trend of increased delinquencies, their ratings are anticipated to remain stable in the absence of [...]
