S&P places Standard Chartered (Taiwan) on positive watch

S&P said it placed Standard Chartered Bank (Taiwan) Ltd.’s ratings on CreditWatch with positive implications on group-wide restructuring plans.

The plan calls for SCB Hong Kong to become a regional hub and SCB Taiwan to become a strategic subsidiary of the Hong Kong bank.

“The CreditWatch placement reflects our expectation that following the completion of the plan, SCB Taiwan will likely benefit from the higher ratings on SCBHK,” said S&P credit analyst Eva Chou.

“The ratings on SCB Taiwan currently reflect the bank's highly strategic status to its ultimate parent, London-based Standard Chartered plc,” she said.

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