MANILA, Oct. 6 (Xinhua) -- Asia-Pacific companies, most of which have strong balance sheet that kept them afloat amid the recession, are also expected to lead the recovery in the global corporate sector, a global credit watchdog said Tuesday.

    Fitch Ratings said in its latest report that the resilient Asia-Pacific companies have "lower vulnerability" to negative rating actions compared with their counterparts in the United States and Western Europe.

    Fitch said Asian companies are more resilient thanks to its manageable debt levels and its increasing ability to compete with more established global companies. It also helps that most of the banking systems in the region are stable and can continue financing the corporate sector.

    The rise of Chinese and Indian economies is also expected to bode well for companies based in the region.

    "While the major Asian economies have been impacted by the global slowdown as a consequence of their export-dependent models, Fitch nonetheless expects Asian companies to enjoy more positive growth dynamics than their western peers as they emerge from recession," said Tony Stringer, Managing Director and Head of Fitch's Asia-Pacific Corporate Team.

    But Fitch said the threat of a global double-dip recession may derail Asia's recovery. The weakness in the U.S. and European consumption will continue to weigh on the Asian export sector. This is why, Fitch said, it's important for Asian economies to boost domestic consumption to reduce its dependence on exports for growth.

Special Report:  Global Financial Crisis