/RATINGS: Goldman Sachs: Asia Sovereign Credit Ratings Are In Good Shape

Goldman Sachs note that "across 15 Asia Ex-Japan economies, 10 saw negative rating action in 2020 from Moody's, S&P or Fitch in the form of a negative outlook change, being placed on review for downgrade, or a rating downgrade. That said, in our view Asia sovereign credit ratings are in good shape. External positions remain strong for all major economies, and external debt vulnerabilities are only apparent in frontier economies, most notably Sri Lanka. There have been broad improvements in sovereign credit ratings across all major economies in Asia Ex-Japan over the past two decades, suggesting that they are well-placed to weather any unforeseen downturns."