S&P rates Shin Kong Commercial Bank

Standard & Poor's said it assigned its BBB long-term and A-3 short-term counterparty credit ratings to Taiwan Shin Kong Commercial Bank Co. Ltd.

The outlook on the long-term rating is stable.

At the same time, the agency said it assigned its D+ bank fundamental strength rating to Shin Kong Bank.

The ratings on Shin Kong Bank reflect its strategic importance to the Shin Kong Financial Holding Co. Ltd. (Shin Kong FHC, BBB/stable/A-3) group, as well as its adequate liquidity and capitalization, the agency said.

Counterbalancing factors include the bank's below-average asset quality and relatively weak profitability, S&P added.

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