Moody’s turns Taiwan view to positive

Moody’s Investors Service said it changed the outlook to positive from stable and affirmed the government of Taiwan’s Aa3 long-term issuer and senior unsecured ratings.

“The decision to change the outlook to positive from stable reflects increasing signs that Taiwan’s economy is more resilient and that its governance strength is stronger than previously assessed. Taiwan’s high-tech, export-oriented manufacturing sector is likely to boost Taiwan’s competitiveness in the medium term, as changes in behaviors and work practices, underway before the pandemic and accelerated by it, continue to boost demand for its goods in the medium term,” Moody’s said in a press release.

The agency noted Taiwan’s lengthening track record of sound policy effectiveness, aided by robust fiscal and external positions, supporting its credit profile through shocks such as trade tensions or the pandemic.

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