S&P: E. Sun view to positive

Standard & Poor's said it revised the outlook to positive from stable on E. Sun Commercial Bank Ltd. and E. Sun Financial Holding Co. Ltd., reflecting the group's improving financial profile.

The agency also said it raised the Greater China credit scale ratings on E. Sun Bank to cnA+/cnA-1 from cnA/cnA-2.

The BBB long-term and A-2 short-term counterparty credit ratings on E. Sun Bank, as well as the BBB- long-term and A-3 short-term counterparty credit ratings on E. Sun Financial were affirmed, along with E. Sun Financial's cnA-/cnA-2 Greater China credit scale ratings.

The positive outlook reflects an expectation that E. Sun Bank's financial profile is likely to strengthen further over the next one to two years and improve the financial profile of its parent E. Sun Financial, S&P said.

The agency also said it expects the company to inject new capital into its banking unit by the end of 2011.

This could help the bank to maintain its capitalization at a satisfactory level relative to its risk profile over the coming one to two years, supported by the group's prudent financial policy and improving core earnings, S&P said.

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