Credit Rating Agency

Real estate, export sectors risky to banks

The mainland property and export-oriented sectors pose the biggest threat to the country's banks in the second half of this year, according to Moody's Investors Service.

Friday, 29 June, 2012, 12:00am

Mainland bank loans may fall as liquidity tightens

Mainland banks' liquidity is likely to continue tightening in 2012 despite a recent cut in the reserve requirement ratio (RRR), and new loans may fall to 16.5 trillion yuan (HK$20.31 trillion), from an estimated 17.5 trillion yuan, a rating agency warned yesterday.

3 Feb 2012 - 12:00am

Banks watchdog may put off reckoning on local debt

The mainland's banking watchdog is likely to let lenders postpone a mandatory recognition of losses from local government debt, undermining investors' confidence, ratings agency Standard & Poor's said yesterday.

13 Jan 2012 - 12:00am

Lai See

Why Nostradamus wasn't born in modern Hong Kong

9 Dec 2011 - 12:00am

S&P's has negative outlook for mainland developer Hopson

Standard & Poor's lowered its ratings outlook for mainland developer Hopson Development Holdings to negative from stable due to the company's weak property sales and aggressive debt-funded expansion.

23 Sep 2011 - 12:00am

Yuan bond market expanding fast in HK

Hong Kong's largely unrated yuan bond market is growing fast despite concerns over poor corporate governance at mainland companies.

The offshore yuan bond market came to a standstill last month following fears over the Greek debt crisis and a short-seller's report that Canada-listed Sino-Forest overstated its timber holdings.

19 Jul 2011 - 12:00am

Nine Dragons offers to redeem bonds early

In its latest bid to restore market confidence after Standard & Poor's last week withdrew its credit rating, Nine Dragons Papers (Holdings) yesterday said it would redeem its bonds two years ahead of the due date.

24 Jun 2011 - 12:00am

BB- rating for Lumena unsecured bond

Rating agency Standard & Poor's said it had placed a BB- long-term corporate rating on Lumena Resources' unsecured corporate bond. It might cut the rating by one notch if its proposed US$1.5 billion takeover of Sino Polymer New Materials weakened the combined entity financially.

13 Nov 2010 - 12:00am

Licence plan to control rating agencies

In the wake of the financial crisis and the Lehman Brothers minibonds debacle, the Securities and Futures Commission has proposed changing the law to make credit rating agencies operating in Hong Kong apply for a licence from the regulator.

20 Jul 2010 - 12:00am

Transparency the key for any ratings agency

The reputation of the big credit-rating agencies took a bashing as a result of their role in the global financial crisis. For these agencies to provide a useful service for investors, they need to have the expertise, independence and courage to make tough calls on the products, companies or indeed nations they rate.

15 Jul 2010 - 12:00am

Vultures know a meal when they see one, thank goodness

When credit rating agencies downgraded many billions of dollars of mortgage-backed investments in October 2007, Goldman executive Donald Mullen was unabashedly pleased. 'Sounds like we'll make serious money,' Mullen wrote to Michael Swenson, another executive, in one of the e-mails released by the Senate Permanent Sub-committee on Investigations.

Associated Press

27 Apr 2010 - 12:00am

Loan deal hits Lumena share price

Shares in Lumena Resources Corp dropped as much as 15.6 per cent yesterday after the industrial chemical maker revealed its controlling shareholder had pledged 20 per cent of the company's shares to obtain a personal loan.

31 Dec 2009 - 12:00am

Fitch cuts ratings on power firms as costs rise

Three mainland-listed power companies have had their ratings cut by Fitch Ratings on concerns of rising debt from aggressive expansion and higher fuel costs.

The rating agency cut Datang International Power Generation's long-term rating to BBB-minus from BBB. The company is the largest power producer in the Beijing-Tianjin-Datang region.

12 Aug 2008 - 12:00am

S&P chief says markets can recover in less than two years

The head of Standard & Poor's, the global credit rating agency, yesterday said he was hopeful the financial markets would recover from the subprime crisis in less than two years if the early signs of confidence were sustainable.

3 Apr 2008 - 12:00am

Fitch attempts to allay fears

Fears that bonds issued by mainland property developers will be downgraded have been denied by Hong Kong-based Tony Stringer, managing director and head of Asia-Pacific corporate ratings at rating agency Fitch.

30 Mar 2008 - 12:00am