S&P applies BBB+ to Ta Chong Bank

S&P said it assigned its BBB+ long-term and A-2 short-term issuer credit ratings to Ta Chong Bank Ltd.

The outlook is stable.

The agency also assigned a cnA+/cnA-1 Greater China regional scale ratings to the bank.

"The ratings on Ta Chong Bank reflect the bank's core group status to the wider Yuanta Financial Holding Co. Ltd. (Yuanta FHC) group," S&P credit analyst Patty Wang said in a news release.

"We expect the parent group will provide the bank with financial support under almost all foreseeable circumstances."

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