2009
10.25
10.25
Undergoing repair; Asian credit markets.
Economist (US), The, November, 2008
An Indonesian court restores a bit of credibility to corporate-bond issuers
IF SOARING markets allow for all manner of bad things to happen, crashing markets can prompt badly needed improvements. Take the decision by the Indonesian improve credit score supreme court, let slip to reporters on October 31st, to reverse its support for lower-court rulings that had freed a subsidiary of Asia Pulp & Paper from $500m in debt obligations incurred in the mid-1990s. The court’s initial stance, taken in 2006, sent a shudder of fear through Asian debt markets. …
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