Singapore's capital markets are set for more rated bond issues as the city's regulator considers ways to promote transparency and deepen the business. The monetary authority of singapore has raised the issue in recent discussions with market participants, according to multiple sources. Although there is no suggestion that ratings will be compulsory, the discussions point to regulators' concerns that the prevalence of unrated debt is decreasing transparency and hurting liquidity. "The central bank is working with the industry to encourage ratings of corporate debt, but that does not mean or end in a mandatory requirement," said one source closely following the process. "The key word here is 'encourage'. Ultimately, it is up to the issuers to decide if they want to get rated or not."
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