The closure of the Strait of Hormuz has a wide-ranging impact on the Asia-Pacific given the region's major dependence on the waterway, S&P Global Ratings said in a Wednesday release.

Lingering disruptions and increasing energy prices will hit the region's households, corporates, banks, and governments, S&P said.

Continued supply constraints could dampen the region's macro-credit environment, with inflationary pressure to squeeze monetary easing dynamics and market unease to weaken supportive financing conditions, according to S&P Asia-Pacific head of credit research Eunice Tan.

Key factors to assess under a persistent disruption include the deterioration of buffers such as strategic oil reserves, corporate and household costs, shipping and aviation reroutes, and weakened financial conditions, S&P said.