Fitch rates E. Sun Financial bonds A-(twn)

Fitch Ratings said it assigned E. Sun Financial Holding Co. Ltd.'s a long-term foreign-currency issuer default rating of BBB-, short-term foreign-currency issuer default rating of F3, national long-term rating of A(twn) and national short-term rating of F1(twn). The agency also said it assigned national long-term ratings of A-(twn) to its two subordinated bonds, with a respective size of NT$5 billion and NT$500,000 million to mature in December 2012 and December 2014.

The outlook is stable.

The ratings reflect its good brand reputation in the Taiwanese finance industry, its stringent risk management practices and its limited financial leverage and satisfactory liquidity profile, Fitch said.

Offsetting factors, however, are low profitability and a small franchise, particularly in the corporate segments, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.