some early impact as demonstrated by the rise in financial assets with significant increase in credit risk (Stage 2). The outbreak and its impacts are dependent on many on-going factors and are still
borders of many countries around the world since March 2020 resulted in drastically drop of international tourist arrivals. The latest forecast from the World Tourism Organization (WTO) in May showed a
debentures at one time by dividing the debentures into multiple sets or one set or may issue debentures many times which may be offered to public investors (public offering) and / or institutional investors
sufficient and efficient work system; (c) expertise, experience and business reputations; (d) readiness of the service provider in case of providing services to many intermediaries; (e) record of complaints or
prospects were apparent in the US, the Eurozone, Japan and many other Asian countries. The International Monetary Fund therefore upgraded its global economic projection for 2017 to 3.6 percent. The US economy
be widely communicated to the relevant personnel of the intermediary in an easily accessible manner in order for such personnel to understand and be able to comply with such policy correctly; (2
group of companies, as specified by the Board of Directors (if any), to be used as guidelines for investors to understand and monitor business directions of the Company. The business goals aforementioned
shall be widely communicated to the relevant personnel of the intermediary in an easily accessible manner in order for such personnel to understand and be able to comply with such policy correctly; (2
holdings with a positive rating trend or worsening trend year over year. Finally, MSCI reviewing the ESG tail risk to understand the fund's exposure to holdings with worst-of-class ESG Ratings of B and CCC
disclose sufficient information about its credit rating process and its credit rating methodologies, so that investors and other users of credit ratings can understand how a credit rating was determined by