The Taiwan Ratings Corp (中華信評), the local local partner of Standard & Poor's Ratings Services, said yesterday the overall credit quality of Taiwan's corporate sector appears to have deteriorated during the first half of 2002.
In a statement, the ratings agency said during this period, the ratings on three companies out of the 27 rated and published were downgraded, while one was upgraded.
In comparison, for the entire 2001 fiscal year, the ratings of three companies out of the 21 rated and published were downgraded.
The corporate sector saw more negative ratings outlooks in the first half of 2002 and full-year 2001, compared with 2000 and 1999, it said.
The companies with negative outlooks were in the shipping, transportation and information technology industries.
In 2001, there were three companies with negative outlooks, two of which were downgraded in the first half of 2002, Taiwan Ratings said.
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