Fitch: APAC SF Ratings Remain Stable in 3Q15

(The following statement was released by the rating agency)HONG KONG/SYDNEY, October 29 (Fitch) Fitch Ratings says a total of 133 Asia-Pacific (APAC) structured finance (SF) tranches were affirmed in 3Q15. No ratings were upgraded, downgraded or withdrawn during the quarter.Of the total, 53 were prime and non-conforming RMBS backed by Australian or New Zealand properties, 47 were CMBS backed by Japanese properties, 14 were ABS backed by loans in New Zealand. The remaining affirmations were to ABS ratings from Korea (5), Singapore (5) and India (3), structured credit ratings (4), a CMBS rating from Singapore and an RMBS rating from Japan.APAC economies continue to be supportive of SF asset performance. In particular, Fitch considers the macroeconomic situation in Australia to be such that mortgage arrears are about as low as they will ever get even if rates were cut further. In Australia, significant increases in unemployment or decreases in property prices will inevitably have a negative effect on asset performance, although ratings will likely remain unchanged in the medium term.Most long-term ratings in APAC have Stable Outlooks. The exceptions are three Australian RMBS tranches placed on Rating Watch Negative in June 2015 and three Australian ABS tranches, which have Positive Outlooks. Individual rating action commentaries relating to specific rating actions can be found on Fitch's website at www.fitchratings.com. Contacts:Alison HoSenior Director+852 2263 9937Fitch (Hong Kong) Limited19/F Man Yee Building68 Des Voeux Road Central, Hong Kong Ben McCarthyManaging Director+61 2 8256 0388Media Relations: Leni Vu, Sydney, Tel: +61 2 8256 0304, Email: leni.vu@fitchratings.com; Wai-Lun Wan, Hong Kong, Tel: +852 2263 9935, Email: wailun.wan@fitchratings.com.Additional information is available at www.fitchratings.com.Related Research:Fitch: Australian SF Ratings Stable in 3Q15, published 30 October 2015Fitch: Japanese SF Ratings Stable in 3Q15, published 30 October 2015Fitch: Stable Ratings Performance in 3Q15 for Non-Japan Asia, published 30 October 2015Fitch: Update on RWN on Interstar Millennium Series 2005-3E Trust, published 9 October 2015ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.