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Moody's: Growth potential in Asia-Pacific
Moody's Investors Service said Asia-Pacific regional sovereign ratings will likely remain resilient to economic risks coming to the foreground as the global economy recovers from the crisis that emanated from the United States and Europe.
Regional rating trends were generally positive in 2009 with no downgrades originating exclusively from the global crisis, the agency said.
Indeed, Indonesia and the Philippines were upgraded to Ba2 and Ba3, respectively, last year, while China, rated A1, Hong Kong, rated Aa2, and India, rated Ba2 for local-currency, have positive outlooks.
The three countries with negative outlooks - Thailand, rated Baa1, Vietnam, rated Ba3, and Fiji, rated B1 - have long-standing underlying imbalances or political tensions that precede the onset of the global crisis, Moody's said.
Growth potential in the Asia-Pacific remains robust, benefiting from fiscal and monetary stimulus programs, liquid banking systems, regional trade and foreign-exchange reserve defenses, the agency said.
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