Fitch rates Grand Bills Finance notes A(twn)

Fitch Ratings said it assigned an expected A(twn) national long-term rating to Taiwan-based Grand Bills Finance's proposed NT$1.5 billion senior unsecured bond due 2011.

The agency said the proposed bond issue will strengthen the company's long-term funding, reduce its reliance on short-term repo funding and improve its duration mismatch on its assets and liabilities, one of the major structural weakness of bill finance companies.

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