Fitch rates EnTie Commercial Bank

Fitch Ratings said it assigned a BBB+(twn) national long-term rating to EnTie Commercial Bank's proposed seven-year NT$4 billion subordinated bond issue, which carries a fixed coupon rate 3¼%, maturing Aug. 23, 2017. This issue is rated one-notch below the bank's national long-term rating of A-(twn).

The outlook is stable.

EnTie emerged as a new and small private bank in 1992 under the shareholder/management control of Hung Tai Group, Fitch said.

The bank suffered significant credit losses in the early and mid-2000s and was severely undercapitalized, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.