S&P assigns HSBC Taiwan A+

Standard & Poor's said it assigned its A+ long-term and A-1 short-term counterparty credit ratings to HSBC Bank (Taiwan) Ltd.

The outlook is stable.

The ratings reflect the strong implicit support from the HSBC group, led by HSBC Holdings plc, whose core entity is the Hongkong and Shanghai Banking Corp. Ltd., S&P said.

The ratings also reflect HSBC Taiwan's good funding and liquidity profile, the agency said, and satisfactory profitability.

Counterbalancing factors include HSBC Taiwan's small market position, average asset quality and the bank's below-average capitalization, Fitch added.

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