India and Indonesia are expected to drive
Asia’s high-yield market. But local regulations
may limit offerings to quality issuers, a development welcomed
by market participants.
The past few weeks have seen a flurry of high-yield
offerings from India, with more deals from Indonesia in the
coming weeks anticipated.
But local regulations from both jurisdictions may
slow issuance – and that may not be a bad thing for
the long-term health of the markets.
"A lot of those new ratings
were desperados, of sorts"
Brad Gibson, portfolio manager at AllianceBernstein, said
that new issuers may be scarce in the short-term, due to
concerns around dollar...