Fitch: South-East Asian Utilities' Financial Profiles Under Pressure

(The following statement was released by the rating agency) Link to Fitch Ratings' Report: 2016 Outlook: South-East Asia Utilities www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=873840">https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=873840 SINGAPORE, November 30 (Fitch) Fitch Ratings says in a new report that it expects the standalone credit profiles of most rated south-east Asian utilities to weaken in 2016 due to weak demand and high capex. State interventions in the form of tariff restrictions will also put pressure on some entities' cash generation. Fitch's Rating Outlook for these issuers, however, remains Stable due to their state linkages. Fitch also says that high debt-funded capex, associated with state-directed generation and network capacity targets, is negative for the credit profiles of these issuers. The full report "2016 Outlook: South-East Asia Utilities" is available at www.fitchratings.com or by clicking on the link in this media release. Contact: Isabelle Katsumata Director +65 6796 7226 Sajal Kishore Director +61 2 82560321 Media Relations: Leslie Tan, Singapore, Tel: +65 67 96 7234, Email: leslie.tan@fitchratings.com. Additional information is available at 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.