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A rating is, in substance, the opinion expressed by a rating agency as to the ability of an entity to generate the funds necessary to meet the commitments undertaken with respect to its creditors. It is based mainly on an economic assessment, although in certain circumstances the economic assessments must go parallel with contractual structures.

Freddy Karyadi Oene Marseille On November 15 2011, Indonesia's director general of taxes issued two new regulations in relation to tax audit procedures: Regulation No. PER-34/PJ/2011 concerning Tax Audit Procedures to Test the Compliance with the Tax Obligations (PER-34); and Regulation No. PER-35/PJ/2011 concerning Tax Audit Procedures for Other Purposes (PER-35).

Asset purchases are a popular way to make strategic acquisitions in China while avoiding red tape. But they should be approached with caution

New guidance has given clarity to lawyers providing English opinion letters

The Bangko Sentral ng Pilipinas (BSP) recently issued Circular Nos 742 and 743 (Series of 2011) amending certain provisions of the Manual of Regulations on Foreign Exchange Transactions (the manual). Under the manual, loans and equity investments must be registered with the BSP if the foreign exchange needed to service repatriation of capital, remittance of dividends, profits and earnings accruing from such investments or payment of interest and principal on foreign loans is to be sourced from the Philippine banking system.

Gus J Papamichalopoulos On November 30 2011, the Regulatory Authority for Energy (RAE) announced the measures that were decided to be taken for the support and finance of the renewable energy sources in Greece. Specifically, RAE's measures intend to reinforce the budget of the electricity market operator (EMO), including an increase in the special renewable energy sources duty and application of the duty to ERT SA, the state radio and television company.

New rules which aim to promote shareholder interest could instead slash the number of tender offers in France

Think the unthinkable Speculation over a eurozone break-up refuses to go away. While some believe the idea of any country leaving a union that took ten years to achieve is pure fantasy, others think the present situation is unsustainable.

Over the last few months, our subscribers have been calling for one thing in our coverage above anything else: more deals

Over the past few years a number of countries have increased the firepower of their bribery and corruption legislation. Here we explain how they affect multinationals and what to do about it