Fitch rates Taiwan Mobile bonds AA(twn)

Fitch Ratings said it assigned a national long-term rating of AA(twn) with stable outlook to Taiwan Mobile Co., Ltd., along with a national short-term rating of F1+(twn).

The agency also said it assigned AA(twn) ratings to the company’s unsecured debt class and outstanding unsecured bonds.

Fitch said it expects the company to maintain its strong market positions over the medium-term.

The company is Taiwan's second-largest mobile operator, holding a revenue market share of about 29% in the first nine months of 2016, the agency said.

In the cable TV market, Taiwan Mobile is the fourth-largest multiple-system operator, holding a nationwide subscriber market share of about 10%, the agency added.

The ratings reflect an expectation that it will continue to maintain healthy profitability and operating cash generation over the medium-term, Fitch said.

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