Standard & Poor's Corp. said Wednesday it does not expect to make substantial changes to its ratings on bonds issued by 16 Asia-Pacific nations following the Sept. 11 terrorist attacks in the United States.
"Standard & Poor's expects that any future rating actions will be prompted more by policymakers' responses to changed events, rather than the events themselves," the U.S. credit-rating agency said.
"The terrorist attacks will hurt U.S. consumer confidence and will likely push the country into a recession for at least the third and fourth quarters of 2001, with the global economy at near zero growth."