...Positive Momentum Fades: Positive pressure on ratings is ebbing following a run of upgrades since 2011, the latest being Vietnam, which was raised to `BB-'/Stable on 3 November 2014. Eight of 10 Emerging Asian sovereigns are on Stable Outlook, with two (Malaysia and Mongolia) on Negative Outlook. A deeper dive into credit profiles using Fitch Ratings' four main categories for analysis reveals marginally more negative than positive momentum. Ratings Capture Strong Growth: Fitch expects Emerging Asia, excluding China, to expand by about 6% in 2015 and 2016, remaining the world's strongest-growing region. We forecast China to expand at 6.8% in 2015 and 6.5% in 2016, as the government's bid to rebalance the economy works through. Lower oil prices and faster growth in advanced economies support most Emerging Asian countries, including China. Commodity-Price Volatility Impact Varies: Fitch estimates China, India and Thailand would be net gainers from a sustained period of weaker commodity prices...
