Fitch rates Taichung Commercial bond A-(twn)

Fitch Ratings said it assigned Taichung Commercial Bank's proposed 7-year NT$1.2 billion subordinated bond issue an A-(twn) national long-term rating. The bank's subordinated bonds carry a floating coupon rate and will mature Dec. 18, 2016.

This issue is rated one notch below the bank's national long-term rating of A(twn) with a negative outlook, which is in compliance with Fitch's rating criteria on subordinated bond instruments of financial institutions.

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