Standard & Poor's Ratings Services said today it has withdrawn its issue ratings on the debt issued by the following sovereigns:
Japan (AA-/Negative/A-1+);
Republic of Singapore (AAA/Stable/A-1+; ASEAN scale axAAA/axA-1+);
Taiwan (Republic of China; AA-/Stable/A-1+; Greater China scale cnAAA/cnA-1+).
On Feb. 25, 2011, we converted our issuer credit ratings on the three sovereigns to "unsolicited" and we announced our intention to withdraw our issue ratings on the debt issued by these governments.
Standard & Poor's nonetheless continues to publish issuer credit ratings on these three sovereigns on an unsolicited basis, and our withdrawal of the issue ratings has no impact on our view of these sovereigns' creditworthiness; our issuer credit ratings on Japan, Singapore, and Taiwan remain unchanged.
RELATED CRITERIA AND RESEARCH
Ratings On Six Asia-Pacific Sovereigns Converted To Unsolicited Ratings, Feb. 25, 2011
Sovereign Credit Ratings: A Primer, May 29, 2008
This unsolicited rating(s) was initiated by Standard & Poor's. It may be based solely on publicly available information and may or may not involve the participation of the issuer. Standard & Poor's has used information from sources believed to be reliable based on standards established in our Credit Ratings Information and Data Policy but does not guarantee the accuracy, adequacy, or completeness of any information used.
Complete ratings information is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com. Use the Ratings search box located in the left column.
Media Contact:
John Piecuch, London (44) 20-7176-3536, [email protected]
Analyst Contacts:
Elena Okorotchenko, Singapore (65) 6239-6375
KimEng Tan, Singapore (65) 6239-6350
David T Beers, London (44) 20-7176-7101