International rating agency Standard & Poor's has announced it has expanded its team of analysts in its Singapore office to cover industrial corporations, infrastructure finance and government-linked companies in Singapore and Southeast Asia. S&P says the move was driven by its expectation of further growth in the region's capital markets.

Thomas Doud, previously an infrastructure finance analyst at S&P in Hong Kong, moves to Singapore to take the position of director and team leader for the new group.

"We believe that as the credit culture develops further in Singapore and in the surrounding region, prospects for bond and bank loan ratings, and the need for the wide range of credit services that Standard & Poor's provides will grow substantially," says Doud. "By strengthening the Singapore-based team, we can stay closer to the companies we rate, thereby better serving the needs of issuers and investors alike."

Working alongside Doud will be Ee-Lin Tan, associate director, who has covered petrochemicals, transport, forest products, building materials and consumer products in the Singapore office for the last four years.

Yasmin Wirjawan, also an associate director, will cover telecommunications, technology and property, and Erly Witoyo, rating analyst, will deal with utilities, infrastructure and telecommunications. Witoyo moves to Singapore from the agency's Melbourne office.

Presently, the group oversees over 40 corporate credit ratings.