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Fitch affirms Chinatrust Financial
Fitch Ratings said it affirmed Chinatrust Financial Holding Co.'s long-term foreign-currency issuer default rating at A, short-term foreign-currency issuer default rating at F1, national long-term rating at AA+(twn) and national short-term rating at F1+(twn). The outlook is stable.
The agency also said it affirmed Chinatrust Commercial Bank's long-term foreign-currency issuer default rating at A, short-term foreign-currency issuer default rating at F1, national long-term rating at AA+(twn), national short-term rating at F1+(twn), subordinated bonds' long-term foreign-currency rating at A- and national long-term rating at AA(twn) and senior unsecured bonds at AA+(twn). The outlook is stable.
Fitch also affirmed Chinatrust Securities Co.'s long-term foreign-currency issuer default rating at A-, short-term foreign-currency issuer default rating at F1, national long-term rating at AA(twn) and national short-term rating at F1+(twn). The outlook is stable.
The ratings reflect the group's volatile earnings performance, the agency said.
The ratings also consider its strong domestic banking franchise, adequate risk profile and good liquidity and capitalization, Fitch added.
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