Credit Rating

S&P cuts currency outlook amid budget inaction fears

The Hong Kong government had 'talked the talk' on tackling its massive budget deficit and now it was time to 'walk the walk', ratings agency Standard & Poor's warned yesterday.

Friday, 25 October, 2002, 12:00am

CNOOC rating under review

Moody's Investors Service yesterday placed the Baa2 issuer rating of CNOOC Ltd and the Baa2 senior unsecured rating of its guaranteed subsidiary, CNOOC Finance (2002), on review for possible upgrade.

9 Oct 2002 - 12:00am

Hutchison bond defies bleak market

Hutchison Whampoa looks set to defy gloomy market conditions and doubts about its costly mobile-phone strategy by pulling off the sale of nearly US$1.5 billion in bonds tomorrow.

1 Oct 2002 - 12:00am

Concern over 3G investment weighs on Hutchison bonds

While Asian equity investors have been taking a bath this year, denizens of the bond world have been making hay.

Overall, Asian high-grade bonds have put on 12 per cent amid declining expectations for growth and inflation and a flight from plunging stock markets.

30 Sep 2002 - 12:00am

Property to fall further, says S&P

Credit rating agency Standard & Poor's yesterday delivered another bearish assessment of the property market and forecast residential and office values would fall further in the coming year.

The agency predicted home prices could decline by another 5 per cent to 10 per cent and grade-A office rentals by 10 per cent to 20 per cent over the next 12 months.

25 Sep 2002 - 12:00am

Hutchison keeps bond details under wraps in roadshow launch

Hutchison Whampoa yesterday launched a roadshow for a bond issue as big as US$2 billion - though stormy financial markets could end up scuttling the jumbo deal, banking sources warned.

Deputy chief financial officer Don Roberts was guarded while talking to institutional investors in Hong Kong yesterday, refusing to put numbers on duration, size or pricing of the issue.

25 Sep 2002 - 12:00am

Asean consumers seen as new market as mainland attracts business focus

As Malaysia celebrates its 45th anniversary of independence from Britain today, the country must look ahead to more change in the near future as Prime Minister Dr Mahathir Mohamad prepares to step down after more than 20 years in office.

31 Aug 2002 - 12:00am

Cheung Kong takes S&P downgrade in dim market

Credit agency Standard & Poor's yesterday downgraded its outlook for conglomerate Cheung Kong (Holdings) to negative and delivered a bleak prognosis for the Hong Kong property market.

Director of corporate and infrastructure ratings John Bailey said: 'We predicted a soft and weak market in May. What is happening now is exactly what was expected to happen.'

9 Aug 2002 - 12:00am

Bank of China listing 15 times oversubscribed

Retail investors applied for an estimated $32.7 billion worth of shares in the Bank of China listing - about 15 times the amount on offer, underwriters said yesterday.

It is the strongest response to an initial public offering on the Hong Kong stock market this year.

19 Jul 2002 - 12:00am

Jardine suffers downgrade for risk exposure

Jardine Strategic's planned takeover of car distributor Cycle & Carriage contributed to Standard & Poor's decision to yesterday lower the company's credit outlook to negative from stable.

17 Jul 2002 - 12:00am

Officials follow US steps on ratings

Hong Kong might follow the lead of the United States and other countries in increasing regulation of credit rating agencies.

Secretary for Financial Services Stephen Ip Shu-kwan told legislators yesterday the Government was closely watching moves by overseas regulators.

27 Jun 2002 - 12:00am

Baosteel reforms earn a credit-rating upgrade from S&P

Standard & Poor's has raised its long-term foreign-currency corporate credit rating on Shanghai Baosteel Group (Baosteel) to BBB-minus from BB-plus.

The outlook on the rating is stable.

The agency raised its rating of one of China's few profitable steel-makers after the company's efforts to reform paid off.

25 Jun 2002 - 12:00am

S&P upgrades Hopewell

Standard & Poor's has affirmed its BB-minus corporate credit rating on Hopewell Holdings and has revised its outlook to stable from negative.

21 Jun 2002 - 12:00am

Dah Sing bonds get head start

Dah Sing Bank has launched a US$1 billion debt programme through which the bank can issue bonds more quickly to take advantage of market conditions.

The bank said it had no specific plans for how the funds raised would be spent or when the medium-term note programme would be first used.

18 Jun 2002 - 12:00am

Ratings downgrade for AXA General

Standard & Poor's has lowered its rating on AXA General Insurance Hong Kong while giving a good initial rating to Bank of China Group Insurance.

S&P's rating on Hong Kong's fourth-largest general insurer was lowered one notch to double-Bpi, from triple-Bpi.

13 Jun 2002 - 12:00am