Fitch rates Taiwan Business Bank, Farmers Bank of China

Fitch Ratings said it assigned international long- and short-term ratings to Taiwan Business Bank (TBB) and Farmers Bank of China (FBC).

TBB was also assigned national long- and short-term ratings while those of FBC were upgraded. At the same time, the agency affirmed the individual and support ratings of both banks.

TBB's ratings include long-term foreign currency (LTFC) BB+, short-term foreign currency (STFC) B, national long-term A-(twn), national short-term F2(twn), individual E and support 3. The outlook is stable.

FBC's ratings include LTFC at BB+, STFC at B, national long-term A-(twn), national short-term F2(twn), individual E and support 3. The outlook is positive.

Fitch said the ratings take into account the weaknesses of TBB and FBC - notably their low capitalization and poor profitability.

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