Hua Nan Commercial Bank's BFS rating affirmed on intra-group merger - Moody's |
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Fri, 02 Nov 2007 08:18
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MUMBAI (Thomson Financial) - Moody's Investors Service said it has affirmed Taiwan's Hua Nan Commercial Bank's (HNCB) 'D' bank financial strength (BFS) rating, 'A3/P-1' local and foreign currency deposit ratings, and 'Aa2.tw/TW-1' long-term/short-term Taiwan national scale deposit ratings, following news of its planned merger with Hua Nan Bills Finance Co in early 2008.The outlook for all the ratings is stable, Moody's said.The ratings affirmations reflect Hua Nan Bills' small scale of business operations compared to HNCB's, and the long-term benefits that this business rationalization will have on its parent, Hua Nan Financial Holdings Co, the ratings agency said.While the merger will help to provide modest immediate support to HNCB's capital adequacy, over the short to medium-term the bank's operating efficiency, profitability and liquidity could suffer slight declines given the weaker financial condition of Hua Nan Bills, Moody's said.TFN.newsdesk@thomson.comans/manCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Chinatrust's ratings affirmed on intra-group merger - Moody's 