Bangkok--25 Oct--Moody's Moody's Investors Service says that credit trends affecting ratings for corporate issuers in Asia Pacific (ex-Japan)were mildly negative during the third quarter of this year, and this will likely continue for the rest of the year. "For the first time this year, more companies have been downgraded year-to-date than upgraded, although the trend is not intense, with over 80% of the portfolio on stable outlook," says Clara Lau, Moody's Chief Credit Officer and author of a new report which analyzes trends in Moody's-rated universe of Asia Pacific (ex-Japan) corporate issuersduring the third quarter of 2007. "Overall credit fundamentals within the Asia Pacific portfolio remain good, given robust economic performance and sufficient liquidity in the region; nevertheless Moody's expects credit trends in Asia Pacific (ex-Japan) to remain mildly negative in the coming months," Lau says. "This is indicated by the fact that the number of companies with negative rating outlooks or reviews at the end of the quarter was just over 1.5 times those with positive rating outlooks or reviews," she continued. "Disruption in the bond markets was not a major credit issue during the third quarter save for a small number of companies where tight liquidity caused rating changes" Lau adds. The report, entitled "Asia Pacific (ex Japan) Corporate Credit Third Quarter 2007: Mildly negative Credit Trend in Non-Japan Asia Pacific," can be found at www.moodys.com. NOTE TO JOURNALISTS ONLY: For a copy of these reports, please contact EMEA Press Information in London +44-20-7772-5456; New York Press Information +1-212-553-0376; Juan Pablo Soriano in Madrid +34-91-310-1454; Alex Cataldo in Milan +39-02-914-81-100; Eric de Bodard in Paris +331-5330-1076; Detlef Scholz in Frankfurt +49-69-707-30-700; Mardig Haladjian in Limassol +357-25-586-586; Alex Sazhin in Moscow +7495-641-1881; Petr Vins in Prague +4202 2422 2929; Tokyo Press Information +813-5408-4110; Hilary Parkes in Toronto +1-416-214-1635; Hong Kong Press Information +852-2916-1150; Sophie Davidson in Sydney +612 9270 8185; Luiz Tess in Sใo Paulo +5511-3043-7300; Alberto Jones Tamayo in Mexico City +5255-1253-5700; Daniel R๚as in Buenos Aires +54 11-4816-2332 ext. 105; Craig Jamieson in Johannesburg +27-11-217-5470; Philipp Lotter in Dubai +971 4 365 0284; or visit our web site at www.moodys.com Sydney Brian Cahill Managing Director Corporate Finance Group Moody's Investors Service Pty Ltd JOURNALISTS: (612) 9270-8102 SUBSCRIBERS: (612) 9270-8100 Hong Kong Clara Lau Senior Vice President Corporate Finance Group Moody's Asia Pacific Ltd. JOURNALISTS: (852) 2916-1150 SUBSCRIBERS: (852) 2916-1121