Industry Research
Press Releases
Fitch Rates ANZ's USD60bn EMTN Programme 'AA-'/'F1+'
18 May 2012
Fitch Ratings has assigned Australia & New Zealand Banking Group's (ANZ; 'AA-'/Stable/'F1+') USD60bn euro medium-term note programme ratings of Long-term 'AA-' and Short-term 'F1+'.
Fitch Affirms Wing Hang Bank and Banco Weng Hang at 'A-'
17 May 2012
Fitch Ratings has affirmed Hong Kong-based Wing Hang Bank Limited (WHB), and its wholly owned Macau subsidiary, Banco Weng Hang (BWH), including their Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) at 'A-'. The Outlooks are Stable.
Fitch Assigns Yancoal's USD Notes 'BBB-' Final Ratings
17 May 2012
Fitch Ratings has assigned Yancoal International Resources Development Co., Limited's USD450m due 2017 and USD550m due 2022 notes final ratings of 'BBB-'. The notes are unconditionally and irrevocably guaranteed by Yanzhou Coal Mining Company Limited (Yancoal, 'BBB-'/Stable).
Fitch Takes Negative Rating Actions on Greece
17 May 2012
Fitch Ratings has downgraded Greece's Long-term foreign and local currency Issuer Default Ratings (IDRs) to 'CCC' from 'B-'. The Short-term foreign currency IDR has also been downgraded to 'C' from 'B'. At the same time, the agency has revised the Country Ceiling to 'B-'.
Fitch: NZ Covered Bond Law Provides Clarity, Neutral for Ratings
17 May 2012
The introduction of a legislative framework for New Zealand covered bonds is positive for investors, Fitch Ratings says. It endorses the segregation of cover pool assets through an asset owning SPV, reinforces the legal certainty on their treatment in the event of an issuer becoming insolvent and accommodates contractual arrangements within the existing rated covered bond programmes.
Fitch: Stricter Basel III Capital Rules Pose Return on Equity Challenge for Global Banks
17 May 2012: In a report published today, Fitch Ratings estimates that the 29 global systemically important financial institutions (G-SIFI) might need to raise approximately $566 billion in common equity to satisfy new Basel III capital rules by end-2018. This could restrict the ability of these institutions to increase dividends or undertake share buybacks.
Fitch: Japanese Banks' Lending Boosted By European Deleveraging
17 May 2012
The Japanese "mega banks" have been among the major beneficiaries of European bank deleveraging, as highlighted in their latest results. We expect these banks to continue to search for growth by increasing their exposure outside of Japan. However, expansion is more likely to be through direct lending than large offshore investments, as their overseas subsidiaries are thinly capitalised.
Fitch Rates Fonterra's AUD150m 2022 Notes 'AA-'
17 May 2012
Fitch Ratings has assigned New Zealand Milk (Australasia) Pty Ltd's (NZMA) AUD150m, 5.25% notes due 23 May 2022 ratings of 'AA-'.
Fitch Affirms Silver Oak at 'AAAsf'; Outlook Stable
16 May 2012
Fitch Ratings has affirmed Silver Oak Ltd.'s (Silver Oak) notes at 'AAAsf' rating with Stable Outlook. Silver Oak is a CMBS transaction backed by Raffles City Singapore, which comprises Raffles City Shopping Centre, Raffles City Tower, two hotel towers (Fairmont Singapore and Swissotel The Stamford) and a convention centre.
Fitch Affirms Fonterra at 'AA-'; Outlook Stable
14 May 2012
Fitch Ratings has affirmed New Zealand's (NZ) Fonterra Co-operative Group Limited's (Fonterra) Long and Short-Term Issuer Default Rating (IDR) at 'AA-' and 'F1+'. The Outlook is Stable.
Fitch: Most Growing EM Banking Systems Remain Sound, But Pressures Build at Chinese Banks
14 May 2012
Fitch Ratings says in a newly published special report that rapid Chinese credit expansion since 2008 is starting to manifest itself in early signs of strain. However, Fitch continues to view emerging market (EM) loan growth elsewhere in Asia, Latin America (LatAm), Europe and the Gulf Co-operation Council (GCC) as less high risk, with system metrics generally sound.
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Criteria Reports
Events
Photos
Fitch's 2012 Asia-Pacific Sovereign Credit Briefings
Fitch in the news
Commercial banks' Q1 net profits go up
Global Times-18 May 2012
Japan's top banks report profits up, see tougher year
New York Times-15 May 2012
European stocks slump on fresh euro fears
Sydney Morning Herald-15 May 2012
Asia is safe from Europe's woes, says Fitch
Channel News Asia-14 May 2012
Slowing China data not worrying in a credit sense: Fitch
Reuters-14 May 2012
China's Bumpy Rebalancing Act: Expert (Video)
CNBC-14 May 2012
Country fairly rated: Fitch
Business World-14 May 2012
Greece mired in crisis cabinet talks
Bangkok Post-13 May 2012
Sony slides to three-decade low on strategy doubts
Chicago Tribune-11 May 2012
Sony `Out of Ideas' on Products, Fitch's Soni Says (video)
Bloomberg-10 May 2012
Guidelines on securitisation will help market's long-term growth: Fitch
Economic Times-10 May 2012
Rupee depreciation may impact corporate profits: Economists
Business Standard-10 May 2012
Budget is strong and flexible: Fitch
Sydney Morning Herald-9 May 2012
Story up trouble
The Economist-5 May 2012
Fiscal slippages threaten current surplus target
Projects Monitor-4 May 2012
Banks may still raise rates - Fitch
Australian Associated Press/Business Spectator-4 May 2012
Fitch: Singapore banks face growing rating pressure
Business Times-3 May 2012
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