Fitch Ratings | South China Morning Post
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  • Jan 27, 2015
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Fitch Ratings

Fitch puts OCBC on negative watch after Wing Hang deal

Fitch Ratings was concerned about OCBC's increased exposure to Greater China. Photo: Reuters

Credit rating agency Fitch Ratings has placed Oversea-Chinese Banking Corp, Southeast Asia's second-largest lender, on negative watch, citing higher potential exposure to China, after the bank announced a HK$38.4 billion takeover of Hong Kong's Wing Hang Bank.

Friday, 4 April, 2014, 5:24am

Moody’s lowers China outlook after Fitch downgrade

A Chinese migrant worker prepares to spray paint at a construction site in Qingdao, in eastern China. Photo: EPA

Moody's Investors Service lowered China's outlook to stable from positive after Fitch Ratings downgraded one of its sovereign ratings of the country last week.

29 Aug 2013 - 4:13am

Danger lurks in China's shadow banks, says Fitch

Fitch Ratings has downgraded China's long-term local-currency debt rating to A-plus from AA-minus on Tuesday.

The mainland's formal banking sector is "significantly exposed" to the shadow banking system, a source of growing risk to the stability in the world's second-largest economy, Fitch Ratings says.

11 Apr 2013 - 5:07am

Agency cuts ratings on power, resources firms

Guangdong Nuclear Power was one of two state firms targeted.

Fitch Ratings has downgraded its local-currency credit rating on two state-backed power generators and three resources firms, a day after the rating agency's downgrade of a Chinese sovereign rating by one notch.

11 Apr 2013 - 5:07am

Fears growing about Chinese credit bubble

Fears growing about Chinese credit bubble

On Tuesday, credit agency Fitch downgraded China's local-currency rating from AA-minus to A-plus.

That demotes the creditworthiness of China to the level of Japan, where total gross debt now exceeds 450 per cent of gross domestic product and the central bank is busy printing money in a desperate attempt to revitalise the economy.

11 Apr 2013 - 5:02am 1 comment

Fitch cuts China's credit score as debt increases

Fitch Ratings had cut China's long-term local-currency debt rating to A-plus from AA-minus. Photo: Bloomberg

For the first time, Fitch Ratings has downgraded one of its sovereign ratings of China, citing the rapid expansion of credit in the country. The international ratings agency announced yesterday that it had cut China's long-term local-currency debt rating to A-plus from AA-minus.

10 Apr 2013 - 3:57am

Fitch cuts ratings on Panasonic, Sony to junk

A woman walks past a Sony Corp flat-screen TV at the company's headquarters in Tokyo. Photo: Reuters

Japan’s embattled electronics sector suffered another blow on Thursday as ratings agency Fitch downgraded industry titans Sony and Panasonic to junk status.

The agency slapped a speculative rating on each firm, pointing to their weak balance sheets and declining position in the global electronics sector.

22 Nov 2012 - 3:54pm

Ford board to set Mulally succession plan in motion

Ford Motor's board discussed a succession plan for chief executive Alan Mulally at its monthly meeting, according to a person familiar with the discussions.

The board is preparing to promote Mark Fields to chief operating officer from president of the Americas as part of a plan to have him eventually succeed Mulally, said the person.

13 Oct 2012 - 5:19am

Casino stocks fall on revenue worries

Gambling shares have tumbled amid signs that casino revenues in Macau may shrink further in the coming months.

Fitch Ratings yesterday slashed its forecast on the island's gaming revenue growth to 10 to 12 per cent from 15 per cent.

27 Jul 2012 - 12:00am

Evergrande shares slump on solvency claims

Evergrande Real Estate, the second-largest mainland developer by sales, tumbled yesterday on accusations that it had fabricated its books and asset value.

22 Jun 2012 - 12:00am

Mainland banks at risk: Fitch

Ratings agency Fitch is warning of a potential wave of bank bailouts echoing those of 2008, with smaller cash-strapped mainland banks having to be rescued.

3 Dec 2011 - 12:00am

HK banks running risk of credit rerating, Fitch says

Hong Kong banks may face 'negative rating action' as risks from mainland-related loans grow, Fitch Ratings said.

25 Oct 2011 - 12:00am

Property 'biggest risk' for lenders

Mainland banks' lending exposure to the property sector will be 'much more difficult' to deal with than debt-laden local governments, Fitch Ratings has warned.

31 Aug 2011 - 12:00am

Fitch expects probes of Chinese firms to go on

Fitch Ratings says it does not expect the flow of accusations and investigations into Chinese companies over reported misconduct to slow any time soon, particularly if short-selling is involved.

'Some of the accusations will be legitimate; some will be erroneous; many will be a mixture,' said John Hatton, group credit officer for Asia-Pacific corporates, in a report.

18 Jul 2011 - 12:00am

Fitch downgrades outlook for local-currency default rating

Fitch Ratings has downgraded the mainland's local-currency issuer rating on concerns of elevated real-estate valuations and inflation.

The outlook for China's long-term local-currency issuer default rating has been revised from 'stable' to 'negative', Fitch said yesterday.

14 Apr 2011 - 12:00am

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