Fitch affirms Bank SinoPac

Fitch Ratings said it affirmed Bank SinoPac's long-term foreign-currency issuer default rating at BBB+, short-term foreign-currency issuer default rating at F2, national long-term rating at AA-(twn), national short-term rating at F1+(twn), individual rating at B/C, support rating at 3 and support rating floor at BB+.

The outlook remains stable.

The ratings are supported by the bank's adequate capital position, Fitch said. Despite recent weak financial results, SinoPac's franchise remains sound and its capitalization satisfactory, 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.