S&P changes Fubon Financial view to negative

S&P said it revised the outlook for Fubon Financial Holding and most of its subsidiaries to negative from stable.

The agency revised outlooks for Fubon Life Insurance Co. Ltd., Fubon Insurance Co. Ltd., Fubon Financial Holding Co. Ltd. and Fubon Bank (China) Co. Ltd.

“The downward outlook revision on Fubon FHC and its core and highly strategic subsidiaries reflects our view that the group's largest subsidiary and flagship unit, Fubon Life, could see increasing pressure on its capital and earnings, given heightened market uncertainty and prevailing low-interest rates,” S&P said in a press release.

The agency affirmed all of the ratings on the companies and their debt.

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