Moody's ups three Taiwan banks

Moody's Investors Service said it affirmed the A3 long-term deposit ratings as well as the Prime-1 short-term deposit ratings of Taiwan's Chang Hwa Commercial Bank, First Commercial Bank and Hua Nan Commercial Bank with a stable outlook.

At the same time, Moody's upgraded the standalone bank financial strength ratings of the three banks to D+ from D, mapping to Ba1 on the long-term rating scale.

Moody's said the upgrades reflect the banks' improved financial fundamentals in terms of profitability, good asset quality and strong liquidity that have been maintained in the past two years following the financial crisis.

© 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.