Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Standard Chartered Bank (Taiwan) Ltd. > News item |
Fitch changes Standard Chartered Taiwan outlook to negative
Fitch Ratings said it revised Standard Chartered Bank (Taiwan) Ltd.'s outlook to negative from stable and affirmed its long-term foreign-currency issuer default rating at AA-, short-term foreign-currency issuer default rating at F1+, national short-term rating at F1+(twn), viability rating at bbb, support rating at 1, senior debt national long-term rating at AAA(twn) and subordinated debt national long-term rating at AA+(twn).
The outlook on the AAA(twn) national long-term rating remains stable.
The outlook revision follows the revision of Standard Chartered Bank's outlook on March 5. Standard Chartered Bank (Taiwan)'s issuer default rating remains aligned with that of Standard Chartered Bank based on Fitch's continuing belief of an extremely high probability of support from the parent given the subsidiary's strategic importance and their high level of integration.
The agency said Standard Chartered Bank (Taiwan)'s bbb viability rating reflects its reasonable balance sheet strength, greater alignment of risk management with the parent's since the latter's acquisition in 2007 and renewed earnings momentum.
The rating also reflects risk concentration in its mortgage portfolio, which accounted for 61% of total loans at the end of the third quarter of 2011, Fitch said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.