Credit Rating

Upgrades and downgrades


Sun Hung Kai Properties

Thursday, 1 May, 2003, 12:00am

Fitch downgrade of BEA credit rating linked to outbreak

The Bank of East Asia (BEA) yesterday became the first local lender to have its credit rating downgraded because of the economic fallout from the Sars outbreak.

BEA managers were not available for comment but a spokeswoman for the bank said it was reviewing the downgrade by Fitch Ratings. The international ratings agency warned that other banks could follow.

30 Apr 2003 - 12:00am

Panva seeks fresh funds

Panva Gas Holdings, which supplies gas in eastern, central and southwest China, is raising US$50 million by selling convertible bonds to fund acquisition.

Market watchers said the sale came at an interesting time as the market had been hit hard by the spread of severe acute respiratory syndrome and the repercussions of the Iraq war.

11 Apr 2003 - 12:00am

Moody's trims ASAT's rating to B3

International credit-rating agency Moody's Investors Service has cut its rating for ASAT Holdings - a 43.05 per cent owned unit of QPL International - by two notches on concerns about the company's deteriorating cash flow.

Moody's trimmed ASAT's senior implied rating and its US$100.75 million 2006 guaranteed senior notes to B3 from B1.

29 Mar 2003 - 12:00am

Hongkong Land's credit outlook lowered over Landmark facelift

Standard & Poor's (S&P) has downgraded the outlook on the credit rating of Hongkong Land Holdings from stable to negative due to additional capital expenditure arising from renovation of the Landmark.

26 Mar 2003 - 12:00am

PCCW breaks investors' hearts

Hell hath no fury like an investor scorned. The great disappointment with last week's full-year results from PCCW was the delay of a dividend payout to 2005 at the earliest, from the previous estimate of next year.

'Investors do not only look at dividends when investing in shares,' said deputy chairman Francis Yuen Tin-fan on Thursday at the press conference.

26 Mar 2003 - 12:00am


Standard & Poor's Ratings Services said it maintained its BBB/Positive rating on PCCW-HKT Telephone, unaffected by a US$995 million net loss incurred by the company's parent PCCW. The credit-rating agency said the loss was due to US$1.05 billion in impairment losses.

25 Mar 2003 - 12:00am


Standard & Poor's Rating Services has assigned a BBB corporate credit rating to Beijing Datang Power Generation, one of China's largest independent power producers. The credit-rating agency said the rating underlined the company's strong competitive position in both China and its core Beijing-Tianjin-Tanshan service area.

8 May 2015 - 9:33am


Standard & Poor's Ratings Services has removed its A-plus long-term counterparty credit rating on Canada-based Manulife Financial from CreditWatch, where it was placed on December 9. The agency said the ratings on its primary operating company, The Manufacturers Life Insurance and its other insurance operating and related subsidiaries also were removed from CreditWatch.

5 Mar 2003 - 12:00am


Fitch Ratings has assigned a foreign currency senior unsecured rating of BBB-plus to H-share stock Huaneng Power International, with the outlook being stable. The agency said the rating showed the financial and operational strength of Huaneng, China's largest independent power producer.

23 Jan 2003 - 12:00am

Moody's may cut Citic's credit rating

Credit agency Moody's Investors Service yesterday placed Citic Pacific under review with a possible downgrade after the blue-chip conglomerate was no longer guaranteed returns on Shanghai infrastructure projects.

30 Nov 2002 - 12:00am

Insurer sticks with the fundamentals

INVESTMENT-LINKED insurance products may be hot right now but Pacific Century Insurance is reluctant to follow the fashion.

The insurer is traditional at heart. It may have bowed to pressure in March by introducing an investment-linked policy, but it has no plans to go any further.

29 Nov 2002 - 12:00am

S&P maintains CLP rating

Standard & Poor's has maintained its A plus rating on CLP Holdings after the utility's US$115 million purchase of the remaining interest in some of its jointly owned power assets.

15 Nov 2002 - 12:00am

Ratings for insurers

Standard & Poor's has assigned an A-plus insurance financial strength rating to Hang Seng Insurance and its sister company, Hang Seng Life. It said the rating reflected the companies' strong business performance, sound investment strategy and capitalisation.

12 Nov 2002 - 12:00am

Poor tax flows threaten reforms

The Philippine government's economic reform programme could be jeopardised by its failure to improve revenue collection and rein in a swelling fiscal deficit, Standard and Poor's (S&P) said yesterday as it revised its long-term outlook to negative from stable.

30 Oct 2002 - 12:00am