Fitch revises India's outlook to negative

Fitch revises India's outlook to negative

(ATF) The outlook on India’s BBB- sovereign rating was revised to negative from stable, by Fitch, bringing it in line with Moody’s, which also has a negative outlook on it with a Baa3 rating. Both BBB- and Baa3 are the lowest level of investment grade rating. Rivals S&P Global has ...

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India sees an all-time high count of 'fallen angels'

India sees an all-time high count of 'fallen angels'

(ATF) The number of potential "fallen angels" in Asia has surged this year after India’s sovereign downgrade pushed government-related companies to the cusp of non-investment-grade category, Moody’s Investors Service said in a report. This month, the number of potential 'fallen angels' – companies that have sunk to the lowest investment ...

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Moody's gives Asia-Pacific banks a 'negative' outlook

Moody's gives Asia-Pacific banks a 'negative outlook'

(ATF) Moody’s Investors Service has changed to negative its outlook on a dozen Asia Pacific banking systems, as the relentless spread of the coronavirus hammers economies across the region. Banking systems in Australia, China, India, Indonesia, South Korea, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand and Vietnam were revised downwards. ...

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Zhejiang says it's rebounding from Covid-19

Zhejiang province rebounding from Covid-19

(ATF) - Zhejiang province, one of China’s leading manufacturing hubs, is rebounding from the Covid-19 pandemic. All major foreign trading firms in in the region have resumed operations, while more than 70% of foreign trading companies in other major Chinese manufacturing provinces such as Guangdong and Jiangsu have also restarted ...

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Guangdong remains trade powerhouse despite virus, trade war

Guangdong remains trade powerhouse despite virus, trade war

(ATF) – Southern China’s Guangdong province is expected to remain the world’s factory even as coronavirus threatens global recession and the trade war with the US takes its toll on world trade. While the province’s international trade dipped 0.3 percent to 7.14 trillion yuan (US$1 trillion) in 2019, it still ...

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Shanghai liquidity, debt profile remains strong 

Shanghai liquidity and debt profile remains strong 

(ATF) – Shanghai’s credit worthiness has been given a clean bill of health. Mainland China’s most important financial hub has ample liquidity over the next year or two and low debt ratios, according to Pengyuan International, a Chinese credit rating agency. “The Shanghai general government’s liquidity condition is certainly at ...

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Ratings agencies must fight conflicts of interest

Rating agencies get new guidelines

(ATF) – The China Bond Association and the China Debt Association tightened rules on March 3 in regard to ratings agencies, notably those that work on local government bonds. A series of laws were enacted and will have immediate effect. Credit agencies have been ordered to adhere to about 32 ...

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