Asia corporate Q3 credit trend negative: Moody's

The rating trend for corporates in Asia Pacific remained negative in the third quarter as negative rating actions continued to outnumber positive actions by a margin of 15 to 5, Moody's Investors Service said in a report on Friday.

"This downward credit trend is expected to stabilize for the rest of the year, in view of the easing in monetary measures implemented by governments in the region and signs of a stabilizing economy in China," said Clara Lau, a Moody's credit officer.

"In this context, Moody's macroeconomic central scenario for GDP growth in China is in the range of 7 to 8 percent in 2012 and 2013," Lau added.

The negative trend in the third quarter primarily reflected the deterioration in fundamentals in the metals and mining sector, in particular coal and steel.