(The following statement was released by the rating agency)Link to Fitch Ratings' Report: Viewpoint 1Q16: APAC Corporateshttps://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=879919SINGAPORE/SYDNEY, April 20 (Fitch) Fitch Ratings has published "Viewpoint" - a compendium of 55 thematic research pieces written by our corporate analysts in the Asia-Pacific (APAC) during 1Q16. It provides a single source of all non-rating action commentary for investors interested in the current themes and market activity surrounding rated entities in APAC. Highlights in this edition include our views and discussion on the Chinese property market, the polarisation of debt funding access by Chinese corporates, China's new region-specific renewable energy goals, and how methodology drove volatility in the Chinese Bond Market Index.
Specifically in the Chinese property sector we commented on China Vanke's strong operational performance and China Overseas Land's acquisition of CITIC Group. We provided further commentary on Beijing Capital Land, Sino-Ocean Land, China Jinmao, Greenland, Guangzhou R&F, China Aoyuan, Xinyuan Real Estate, and Times Property. In Hong Kong, we discussed Noble's 2015 net loss and Lifestyle International Holdings lower rating headroom. In India we explained why steelmakers are still under pressure, notwithstanding a new government policy, and how rising competition is driving Bharti Airtel to acquire additional 4G spectrum. In Indonesia we expect a recovery in auto sales and in Thailand we discussed how the chemical manufacturers are benefiting from low oil prices. In the Philippines we believe the two major telcos are likely to benefit from the breakdown of the Telstra-SMC deal. In Australia, we commented that Fortescue's memorandum of understanding with Vale, to blend selected volumes of iron ore in order to create a premium product, is likely to strengthen its business profile."Viewpoint 1Q16: APAC Corporates" is available from www.fitchresearch.com or by clicking on the link in this media release.Contact: Matt JamiesonHead of APAC Research+61 2 8256 0366Fitch Australia Pty Ltd.Level 15, 77 King Street Sydney NSW 2000Andrew SteelRegional Managing Director Head of Asia Pacific Corporate Ratings Group+65 6796 7231Media Relations: Leslie Tan, Singapore, Tel: +65 67 96 7234, Email: leslie.tan@fitchratings.com; Wai-Lun Wan, Hong Kong, Tel: +852 2263 9935, Email: wailun.wan@fitchratings.com.Additional information is available on www.fitchratings.comALL 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 FREE WEB SITE AT 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. Fitch Australia Pty Ltd holds an Australian financial services licence (AFS licence no. 337123) which authorises it to provide credit ratings to wholesale clients only. Credit ratings information published by Fitch is not intended to be used by persons who are retail clients within the meaning of the Corporations Act 2001.