(The following statement was released by the rating agency)Link to Fitch Ratings' Report: Fed Lift-off Matters for Emerging Marketshttps://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=870303HONG KONG/LONDON, September 13 (Fitch) Part of the rationale for ultra-loose monetary policies from global central banks has been to depress risk and term premiums via a portfolio-rebalancing effect, Fitch Ratings says in a new report. This is consistent with the emergence of pressure on emerging markets as Fed lift-off approaches.Emerging-market borrowers may have become more exposed since 2008 to an impact on their funding conditions from an increase in US interest rates, according to Fitch's research. A rise in the Fed Funds rate has been well-signalled, but there remains a substantial gap between the US Federal Reserve's indication of the future path of rates and what the market is pricing in. An outcome closer to the Fed's guidance could be a significant shock."Fed Lift-Off Matters for Emerging Markets" is available from www.fitchratings.com or by clicking on the link above.Contact:Andrew ColquhounSenior Director+852 2263 9938Fitch (Hong Kong) Limited19/F Man Yee Building68 Des Voeux Road CentralHong KongThomas RookmaakerDirector+852 2263 9891Media Relations: Peter Fitzpatrick, London, Tel: +44 20 3530 1103, Email: peter.fitzpatrick@fitchratings.com; 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.com.ALL 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.