Fitch rates Standard Chartered Bank Taiwan bond AA(twn)

Fitch Ratings said it assigned a national long-term rating of AA(twn) to Standard Chartered Bank (Taiwan) Ltd.'s 10-year subordinated bond issue, totaling NT$10 billion. Its ratings include long-term issuer default rating of A and national long-term rating of AA+(twn).

The outlook is stable.

The subordinated bonds carry a fixed coupon rate of 2.9% for the first five years and 3.4% thereafter. The bond is set to mature on Oct. 28, 2019.

The ratings are underpinned by the strength of its parent, Standard Chartered Bank, rated A+ with stable view, including its strong franchise in the Asia-Pacific region and sound capitalization, Fitch said.

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