Fitch affirms DB Taipei notes

Fitch Ratings said it affirmed the national long-term rating on Deutsche Bank AG Taipei Branch's outstanding NT$400 million senior notes due October 2019 at AA-(twn).

“The rating on DB Taipei's senior unsecured bonds is aligned with the credit profile of Deutsche Bank, which is equivalent to AA-(twn) on the national rating scale,” the agency said in a news release.

Fitch said the bonds’ national long-term rating reflects low default risk relative to issues within Taiwan due to Fitch's expectations of strong support from the head office, if needed.

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