Credit Rating

Economy looking up but let's not drop our guard

Are Hong Kong's economic prospects improving? Just ask Moody's Investors Service, the World Bank or Hong Kong's own Dickson Concepts.

Saturday, 18 October, 2003, 12:00am

Moody's considers upgrades for China Merchants and SPDB

The two lenders' ratings are under review after six months of strong growth

Moody's Investors Service has put the ratings of China Merchants Bank and Shanghai Pudong Development Bank (SPDB) under review for possible upgrade, saying the pair had performed better than their peers in recent years.

4 Oct 2003 - 12:00am

In Brief

Century City makes $283m interim gain

Century City International Holdings reported a profit of $283.1 million for the six months to June, from a loss of $199.7 million a year ago. Its property arm, Paliburg Holdings, also recorded an interim profit, of $15.8 million, from a loss of $220.9 million a year ago.

Hong Kong Construction loss broadens to $162m

23 Sep 2003 - 12:00am

Fitch puts SHKP outlook in new light

Two weeks after Sun Hung Kai Properties (SHKP) complained about a weak credit assessment by Fitch Ratings, the ratings agency said yesterday the developer had defied the volatility and prolonged decline in the Hong Kong property market.

2 Aug 2003 - 12:00am

SHKP fires back at Fitch profit and credit assessments

Sun Hung Kai Properties (SHKP) has hit back at a weak credit assessment by Fitch Ratings, which cited a bleak outlook for Hong Kong commercial rents and shrunken profit margins from the firm's core residential development business.

22 Jul 2003 - 12:00am

DBS keen on mainland banks

The largest lender in Singapore may be looking to lay the foundations to offer services as market grows

Singapore's DBS Bank is in talks to buy stakes in mainland lenders after receiving at least five unsolicited proposals.

22 Jul 2003 - 12:00am

Li companies unfazed by downgrade

Shares in the three main listed companies of tycoon Li Ka-shing held up yesterday despite a credit-rating downgrade from Standard & Poor's.

On Thursday, S&P lowered its ratings on Cheung Kong (Holdings) and associate Hutchison Whampoa from A to A-minus, citing concerns over the group's foray into Europe's third-generation (3G) mobile-phone market.

14 Jun 2003 - 12:00am

Controls concern spurs S&P to downgrade BOCHK

Standard & Poor's has revised its BBB-plus long-term counterparty rating on BOC Hong Kong (Holdings) from stable to negative, citing concerns over the effectiveness of the bank's credit-approval controls. Its A-2 short-term counterparty credit rating on the bank remains unchanged.

12 Jun 2003 - 12:00am

VAT on gas connections dampens sector boom

Investors are worrying about how a 13 per cent levy on initial fees will hit the lucrative returns being offered

China's controversial value added tax (VAT) policy on gas companies has poured cold water on a sector that had been offering investors stunning returns.

22 May 2003 - 12:00am

PCCW hits three-week low after downgrade

PCCW shares fell 3.8 per cent yesterday to a three-week low, after credit agency Moody's Investors Service downgraded the company's primary senior debt rating.

PCCW's bonds also came under selling pressure as its spread widened by 12 basis points following the downgrade on Tuesday.

22 May 2003 - 12:00am

PCCW hits three-week low after downgrade

PCCW shares fell 3.8 per cent on Wednesday to a three-week low, after credit agency Moody's Investors Service downgraded the company's primary senior debt rating.

PCCW's bonds also came under selling pressure as its spread widened by 12 basis points following the downgrade on Tuesday.

22 May 2003 - 12:00am

BEA cool on bailout of Resona

Bank of East Asia's (BEA) investment in its Japanese partner Resona Holdings is not expected to be hurt by the bailout of Japan's fifth-largest bank, according to bankers and analysts.

'We do not expect any significant impact,' a BEA spokeswoman said.

20 May 2003 - 12:00am

Hutchison taps bond market for a third time

The mobile-phone operator is seeking to raise US$1 billion

Hutchison Whampoa is seeking to raise US$1 billion, tapping the bond market for the third time this year in what credit rating agencies say is a prudent refinancing exercise.

14 May 2003 - 12:00am

Hutchison taps bond market again

Hutchison Whampoa is seeking to raise US$1 billion, tapping the bond market for the third time this year in what credit rating agencies said was a prudent refinancing exercise.

The blue-chip conglomerate on Tuesday appointed HSBC to sell its 10-year bonds, which, if successful, would raise the total debt market funds raised this year by Hutchison to US$3.5 billion.

14 May 2003 - 12:00am

CASH DISCIPLINE WINS PCCW BBB RATING

Credit agency Standard & Poor's Ratings Services affirmed its BBB corporate credit rating on PCCW-HKT Telephone with a positive outlook, citing PCCW's discipline in its use of free cash flow over the medium term is a key influence on the rating. The agency expects PCCW management to use most of its discretionary cash flow to reduce its debt of US$5.3 billion.

8 May 2003 - 12:00am