Land Bank of Taiwan outlook raised to 'positive'; ratings affirmed - Fitch |
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Published
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Mon, 10 Dec 2007 10:11
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MUMBAI (Thomson Financial) - Fitch Ratings raised the rating outlook of Land Bank of Taiwan to 'positive' from 'stable' reflecting the bank's decision to form a financial holding company with Bank of Taiwan and the Export and Import Bank of ROC, which will lead to an eventual merger.The ratings agency sees the merger further increasing the combined entity's already significant systemic importance, which will lead to higher ratings for Land Bank.Fitch affirmed Land Bank's long-term foreign currency issuer default rating at 'A-', short-term foreign currency IDR at 'F2', national long-term rating at 'AA(twn)', national short-term rating at 'F1+(twn)', individual rating at 'D', support rating at '1' and support rating floor at 'A-'.Land Bank's long and short-term ratings are based on its expectation of strong state support.TFN.newsdesk@thomson.comaka/ssaCOPYRIGHTCopyright 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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