S&P rates Taiwan Financial A+

Standard & Poor's said it assigned an A+ long-term and A-1 short-term counterparty credit ratings to Taiwan Financial Holding Co. Ltd., along with cnAAA/cnA-1+ Greater China credit-scale ratings.

The agency also said it assigned an A+ long-term counterparty credit ratings and financial strength ratings to BankTaiwan Life Insurance Co. Ltd., along with cnAAA Greater China credit-scale ratings.

The outlook is stable.

The ratings reflect the extremely high likelihood of government support for Bank of Taiwan, S&P said.

The agency said it expects the support to be extended through Taiwan Financial and to be available to the holding company, as well as to BankTaiwan Life if needed on a timely basis.

The ratings also consider the holding company's shared credit profile with its operating subsidiaries and the group's satisfactory liquidity profile, S&P said.

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