/RATINGS: Thursday saw Moody's note that.......>

ASIA: /RATINGS: Thursday saw Moody's note that "policy measures taken by the

ASEAN-5 economies - Malaysia, the Philippines, Indonesia, Vietnam & Thailand -

will reduce some of the negative effects of the coronavirus outbreak, but will

not offset the rising recessionary or credit risks for most sectors. "The

various policy measures will mitigate credit-negative pressure on companies,

banks and the broader economy, but weakness in trade, commodity prices and

general sentiment will weigh on growth for all five economies," says Deborah

Tan, a Moody's Assistant Vice President. The five economies are highly

integrated in regional manufacturing supply chains and are experiencing sharp

declines in external trade flows, while ongoing travel restrictions are weighing

on tourism-related revenue and export earnings. At the same time, sluggish

commodity prices are pressuring fiscal revenues for commodity exporters.

Financial market volatility triggered capital outflows in March and April,

although lower dependence on foreign-currency denominated debt for most

governments will to some extent shield them from currency depreciation risk"

- Link: https://tinyurl.com/yakzc6wu