Fitch rates Waterland Financial debt BBB-

Fitch Ratings said it assigned Taiwan-based Waterland Financial Holdings a BBB- long-term foreign currency debt rating, A(twn) national long-term debt rating, F3 short-term foreign currency debt rating, F1(twn) national short-term debt rating, C individual rating and 5 support rating.

The outlook is stable.

Fitch said the ratings reflect the company's strong capitalization on a consolidated basis, minimal financial leverage on a stand-alone basis and strong profitability derived from its principal subsidiary, International Bills Finance Corp.

The key constraining factor to Waterland's ratings is its subsidiaries' limited business scope. Its 55.73%-owned Waterland Securities Corp. has been a drag on the holding company's overall performance due to its lack of scale and limited product offerings, the agency said.

© 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.