In which markets are the financial institutions, generally speaking, on a positive ratings trend
Ian Thompson Probably the banking market that has shown the most improvement in recent times is Korea. We've seen some structural reforms and an improvement in non-performing loans, through securitization, sales to asset management companies, and write-offs. We have also seen an improvement in corporate governance by the Korean banks, which has been aided by the increasing stakes held in them by foreign companies. We've also seen an improvement in Korea in risk management practices. So we believe there have been some permanent structural improvements in that market and in addition to that there has been an improvement in the economy....
