longterm-ratings-trend-turns-south

Long-term ratings trend turns south

The bias has shifted towards ratings downgrades in Asia and the three defaults so far this year are likely to be followed by more, according to Standard & Poor's.
In traditional East Asian culture, 2009 will be the Year of the Earth Bull. Ironically, however, a bear might better describe the coming year, as late 2007 to early 2008 marked the end of positive sentiment for both equity and credit in Asia-Pacific due to global financial market dislocations.

The actions by Standard PoorÆs Ratings Services on corporate and government issuer ratings i.e. non-structured finance in Asia-Pacific during the 12 months to October 2008 anticipated the transition of the credit environment from marginally positive to strongly negative.

If we take JPMorgan ChaseÆs takeover of Bear Stearns in March 2008 as a turning point for global financial markets, the 12 months to October 2008 can...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222