The smaller share of Fitch-rated infrastructure issuers in the Asia-Pacific region reflects both supply and demand factors, said Sajal Kishore, managing director and head of Europe, Middle East, Africa and Asia-Pacific Infrastructure & Project Finance at Fitch. Fitch applies project finance instead of corporate criteria when rating infrastructure bonds, based on asset profiles, and debt and transaction structures, Mr Kishore explained. Nevertheless, the issuance of infrastructure bonds remains limited, he said. Most projects have historically been funded by banks and the government, leaving institutional investors such as asset managers, insurance companies and pension funds with few domestic infrastructure investment opportunities. Fitch expects this to change in the medium term with the growth in infrastructure bonds, Mr Obboon said.

Source: Bangkok Post April 09, 2026 04:31 UTC