Fitch affirms Taiwan Business Bank

Fitch Ratings said it affirmed Taiwan Business Bank's long-term foreign-currency issuer default rating at BB+, short-term foreign-currency issuer default rating at B, national long-term rating at A-(twn) and national short-term rating at F2(twn).

The outlook remains stable.

The bank has shown considerable improvement in its financial performance following a write-off of unamortized losses in 2002-2007, Fitch said, funded by rights issues at the end of 2006.

The ratings are based on the expected state support, given the government's substantial shareholding and the bank's sizable deposit market share, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.