Monday, 25 May 2020 12:32 PM MYT
KUALA LUMPUR, May 25 — Moody’s Investors Service said about 22 per cent of 476 rated non-financial companies in Asia Pacific have high exposure to coronavirus disruptions, up from 20 per cent in March, as the effects of the pandemic on companies’ credit quality have become more apparent. “In addition, declining oil prices and weak industrial demand will continue to hurt oil and gas and shipping.”
“Steel and oilfield services have joined the list of sectors with high exposure, mainly because the halting of production and weakening demand from end-users have hindered steelmakers’ operations, while sluggish demand and depressed oil prices are adversely affecting companies in oilfield services,” said Moody’s vice president and senior credit officer Kaustubh Chaubal.
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Pressure on AsiaPac companies as Covid-19 impact becomes clearerKUALA LUMPUR: Moody’s Investors Service said about 22 per cent of 476 rated non-financial companies in Asia Pacific (APAC) have high exposure to coronavirus disruptions, up from 20 per cent in March, as the effects of the pandemic on companies' credit quality have become more apparent.
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