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Fitch affirms Taichung
Fitch Ratings said it affirmed Taichung Commercial Bank's long-term foreign-currency issuer default rating at BB+.
The agency also said it affirmed the bank's short-term foreign-currency issuer default rating at B, national long-term rating at A-(twn), national short-term rating at F2(twn), viability rating at BB+, convertible bonds at A-(twn) and subordinated bonds at BBB+(twn).
The outlook is stable.
The ratings reflect the bank's overall steady financial profile, still small franchise, modest profitability and capitalization, adequate asset quality and sound liquidity, Fitch said.
An increase in risk appetite or asset-quality deterioration resulting in losses and reduced capital may put pressure on ratings, the agency said.
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