US tariff-related hits to credit quality in APAC will become more pronounced, and the tariffs pose downside risk to the 12 per cent of rated APAC corporate and infrastructure issuers S&P Global Ratings views as exposed to material tariff-related effects.
S&P Global expects the tariff will unevenly hit Indian corporations.
US tariff actions on APAC nations will remain fluid, with varying effects, it noted.