S&P turns Taiwan bank view to stable

S&P said it revised the outlooks for several Taiwan-based banks to stable from positive. The agency recently upgraded Taiwan’s issuer rating to AA+ from AA and revised its outlook to stable.

“The actions reflect our expectation that the above issuers will continue to benefit from extraordinary support from the government over the next 12-24 months,” the agency said in a press release.

The issuers are Bank of Taiwan, Taiwan Cooperative Bank Ltd., Chang Hwa Commercial Bank Ltd., Hua Nan Commercial Bank Ltd., First Commercial Bank Ltd., Cathay United Bank Co. Ltd., Taipei Fubon Commercial Bank Co. Ltd. and E.SUN Commercial Bank Ltd.

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