Bangkok--9 Apr--Fitch Ratings
Fitch Ratings has today said that it continues to grow its business in Asia, including Taiwan and Indonesia. The agency's ratings cover the entire credit spectrum, from corporate finance to structured finance, with international and national ratings assigned to local currency Taiwan Dollar and Indonesian Rupiah bonds. Over the years, Fitch Ratings has established a strong presence in the Asia-Pacific region. The agency currently operates domestically in 11 countries, and has in the past five years increased headcount almost two-fold. Fitch rates 495 Corporate Finance issuers, 414 Financial Institutions, 119 Public Finance & Project Finance entities, 151 Structured Credit issuers, 921 Structured Finance deals and 17 Sovereigns across Asia Pacific.
"As clearly demonstrated through its on the ground presence and increasing visibility, Fitch Ratings remains committed to enhancing its coverage with a view to serving investors and market participants in Indonesia and Taiwan, and indeed across the region," notes Evan Hale, Managing Director, Head of Fitch Asia-Pacific.
PT Fitch Ratings Indonesia was set up in 2005 and currently rates 38 corporates and financial institutions. During 2005-2009, the number of ratings grew by 150%. In 2006, as the first international rating agency to set up a local presence in Jakarta, Fitch went on to obtain a Bapepam-LK license for National Ratings and is recognised by the Indonesian Central Bank as one of three local rating agencies. PT Fitch Ratings Indonesia covers 21 Financial Institutions and 17 Corporates.
Fitch Ratings Taiwan was established in 2002 and is the lead agency for ratings and research for the broader financial institutions sector (this includes Bills Finance companies, securities firms, banks and financial holdings). Over the past six years, the number of issuers it rates has grown 145%. It covers 65 Financial Institutions, 10 Corporates and has 28 Structured Finance ratings under surveillance.
About Fitch Ratings
Fitch Ratings is a leading global ratings agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets. Fitch Ratings is dual-headquartered in New York and London, operating offices and joint ventures in more than 49 locations and covering entities in more than 90 countries. Fitch Ratings is a majority-owned subsidiary of Fimalac S.A., an international financial services group headquartered and listed in Paris, France.
Contacts: Evan Hale, Hong Kong, +852 2263 9963/ [email protected]; Baradita Katoppo, Jakarta, +62 21 526 0479/ [email protected]; Daniel Ho, Taipei, +88 62 8175 7618/ [email protected].
Media Relations: Kevin Duignan, New York, Tel: +1 212-908-0630, Email: [email protected]; Shivani Sundralingam, Singapore, Tel: + 65 6796 7215, Email: [email protected].
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.