Bangkok--29 Jul--Standard & Poor's To date, Asia has largely avoided the doom and gloom enveloping its counterparts in the U.S. and, increasingly, Europe, said an article published today by Standard & Poor's. The article, which is titled "Asia Credit Comment: Can It Stay Above The Fray? (Premium)" says that macroeconomic fundamentals in the region still appear sound, and although pressure is undoubtedly increasing in light of global frailties, there appear to be no major threats to macroeconomic stability. Exports continue to be resilient, in part benefiting from reduced dependence on the U.S. compared with a decade ago. In addition, regional domestic demand is accelerating (notably in large markets such as China and India), and the region's net creditor profile and cumulative foreign reserve position are peerless. "However, the outlook for regional credit markets is not cloudless," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research Group. "It would be inappropriate to gloss over the emerging risks." Even though Asia will continue to benefit from higher economic growth rates vis-a-vis its global counterparts, regional credit markets face headwinds from domestic and external factors. These include: -- Inflationary concerns. -- Unfavorable interest rate dynamics. -- Financial exposure. -- Rising import bill. Indeed, evidence from our proprietary ratings-based indicators suggests that the negative tone in regional corporate credit quality is slightly more elevated in comparison with prior quarters, even though it is still below the levels observed in the U.S. or Europe. This article is part of our premium Global Fixed Income Research content, which is available to premium subscribers of RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com. Ratings information can also be found on Standard & Poor's public Web site at www.standardandpoors.com; under Credit Ratings in the left navigation bar, select Find a Rating, then Credit Ratings Search. Members of the media may request a copy of this report by contacting the media representative provided. Media Contact: Mimi Barker, New York (1) 212-438-5054, [email protected] Analyst Contacts: Diane Vazza, New York (1) 212-438-2760 Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 23 countries and markets, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com. Key Contacts: Americas Media Relations: (1) 212-438-6667 media_ [email protected] Americas Customer Service: (1) 212-438-7280 [email protected]