The 'A-' rating on the proposed notes reflects the direct, irrevocable, and unconditional guarantee by the government of Malaysia.
This report brings together our latest thinking on the key developments and credit outlooks of the major financial services sectors in Taiwan. This report also addresses the rating implications of the emergence of financial holding company (FHC) groups since late 2001.
A rating upgrade can be considered only if the debt burden keeps reducing, not just through revenue growth, but also through expenditure improvement.