S&P upgrades Taishin International Bank

S&P said it upgraded Taishin International Bank Co. Ltd. to BBB+ from BBB and its rating on Taishin Financial Holding Co. Ltd. to BBB from BBB-.

“The upgrade of Taishin Bank reflects a recent improvement in the bank’s capitalization, which we now assess to be strong compared with adequate previously. We expect the bank’s capitalization will remain at this level for the next one to two years. The upgrade of Taishin FHC reflects the rating action on the bank, which is the group’s flagship company and contributes about 95% of the group’s consolidated risk profile,” said S&P in a press release.

The outlook is stable.

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