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April 22 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings has published the latest edition of its Asia-Pacific monthly newsletter. The ‘Asia-Pacific Monthly’ is one of the most viewed reports on the Fitch website. In March, Fitch became the first international rating agency to upgrade the Philippines to Investment Grade (Fitch Upgrades Philippines to Investment Grade; Outlook Stable). Another sovereign upgrade was that of Thailand (Fitch Upgrades Thailand to ‘BBB+'; Outlook Stable).
Last month also saw a plethora of new bond issues by corporates and financial institutions. Among them were ‘Fitch Rates Indonesia’s Alam Sutera ‘B+''; USD Bonds ‘B+(EXP)''; ‘Fitch Rates Noble Group’s Proposed Senior Notes ‘BBB-(EXP)'; ‘Fitch Rates Star Energy Geothermal’s USD Notes ‘B+(EXP)''; ‘Fitch Rates Sompo Japan’s Hybrid Debt ‘BBB+''; ‘Fitch Rates KEXIM’s Senior Unsecured GBP Notes ‘AA-(EXP)''; and ‘Fitch Rates KEXIM’s Senior Unsecured GBP Notes ‘AA-(EXP)''.
Fitch also released several key research reports such as its 2012 transition and default studies, which occupied 4 out of the top 5 most-reads in March. They were ‘Fitch Ratings Global Corporate Finance 2012 Transition and Default Study’; ‘Fitch Ratings Sovereign 2012 Transition and Default Study’; ‘Fitch Ratings International Public Finance 2012 Transition and Default Study’; and ‘Fitch Ratings Global Structured Finance 2012 Transition and Default Study’.
Other highlights included ‘Fitch Downgrades LG Electronics to ‘BBB-'; Outlook Stable’; ‘Fitch: Global Economy Lagging Financial Recovery’; ‘Fitch Releases Emerging Markets Insights - Driving Global Growth’; and ‘Fitch: Lower Profit Growth Adds to Chinese Banks’ Capital Strain’.
Regular features such as Fitch’s key rating actions are provided in the newsletter. Also, Fitch’s international ratings coverage by sector, and international and national ratings coverage by country can be found in this month’s newsletter.
The newsletter is available at www.fitchratings.com or by clicking on the link below.
Link to Fitch Ratings’ Report: Asia Pacific Monthly - April 2013