Fitch rates Taichung Commercial BBB-

Fitch Ratings said it assigned to Taichung Commercial Bank a BBB- long-term issuer default rating, F3 short-term issuer default rating, A(twn) national long-term rating, F1(twn) national short-term rating.

The outlook is stable.

The ratings reflect the bank's good liquidity position, adequate capitalization and improved asset quality and profitability, Fitch said.

The major offsetting factors are its small size and limited diversity in terms of geography and revenue mix, the agency said. Fitch also said it is concerned about the potential risks of inappropriate corporate governance.

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