Fitch Wins APAC Awards for Corporates, FI, Public Finance and Project Finance
09 Feb 2017 11:11 PM
Fitch Ratings-Hong Kong/Singapore/Tokyo-09 February 2017: Fitch Ratings has been named the best credit rating agency in Asia-Pacific for the second year in a row in 2016 for corporates, financial institutions and public finance. The agency also won a fourth award for the best rating agency for project finance. The awards were conferred by The Asset, a Hong Kong-based magazine covering Asia's financial industry since 1999.
"We are pleased to receive market recognition of Fitch's outstanding work. It is testimony to our expanding franchise in Asia and our commitment to delivering independent, timely and insightful opinions," said Brett Hemsley, Head of Asia-Pacific at Fitch.
Criteria for the awards included methodology transparency, number of ratings conducted, default and stability studies, surveillance process and investor outreach. For the first time this year, the awards incorporated the findings of an investor survey on rating agencies by The Asset, which polled close to 100 fixed-income investors in the region.
Corporate Rating Agency of the Year
The Asset commended Fitch for "maintaining its rating momentum in the corporate sector as manifested by its extensive APAC coverage." It added that over 270 corporates carry Fitch ratings, and 62% of the J.P. Morgan Asia Credit Index is covered by Fitch.
Financial Institution Rating Agency of the Year
The Asset acknowledged landmark transactions rated by Fitch, such as Asia's first TLAC-eligible notes from Japan's Mitsubishi UFJ Financial Group. It also praised Fitch's rating expertise in new asset classes such as masala bonds and green bonds.
Public Finance Rating Agency of the Year
"Fitch remains a leader in rating transactions in the international public finance sector, generating positive feedback for its in-depth and more detailed research approach," The Asset noted, adding that Fitch had rated major deals such as the first offering by Wuhan Metro Group Co., Ltd.
Project Finance Rating Agency of the Year
The Asset cited Fitch for its "extensive coverage of the project finance sector, rating bond transactions as well as companies engaged in the energy, power, telecoms, railways, mass transit and airport businesses."
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