INTERNATIONAL investors in Asian bond issues will need to see world-standard credit ratings before entering the market, according to Citicorp. Speaking at the issuers' and investors' forum, Citicorp managing director Avinder Bindra said that until two or three years ago the only Asian issuers rated were sovereign. ''Banks that have dealt with these markets are very comfortable with credit or the issuers in the region,'' said Mr Bindra. ''But for the wealth of new investors, if you want to diversify the investor base and issue paper to non-banks, the rating is an issue,'' he said. Investors not familiar with Asian markets would feel more comfortable seeing a rating by Moody's or Standard & Poor's rather than looking at financial statements. ''The credit rating provides a yardstick to evaluate credit, whether it is Korean, US or Indonesian credit,'' said Mr Bindra. Many of the estimated US$5 billion new issues in the region this year were without ratings. Citicorp director Hans Brinker Sicat said there was a change in attitude towards the rating of Asian issues. He said the rapid development of the market resulted in many issuers wanting to go to the US, where ratings were required.