S&P upgrades E.SUN

S&P said it raised its long-term issuer credit rating on E.SUN Commercial Bank Ltd. to A- from BBB+ and affirmed the short-term issuer credit rating at A-2.

The outlook on the long-term rating is stable.

“The upgrade reflects our view that E.SUN Bank has enhanced its domestic operating scale to be comparable to that of other large scale private banks in Taiwan,” said S&P credit analyst Patty Wang in a news release.

“The upgrade also reflects our expectation that E.SUN Bank will continue to grow its domestic market share in terms of deposits and assets, while maintaining above average profitability and good asset quality.”

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