S&P: Fubon Bank unaffected

Standard & Poor's said ratings on Fubon Bank (Hong Kong) Ltd. (BBB+/stable/A-2) and its parent Fubon Financial Holding Co. Ltd. (BBB+/stable/A-2) are not affected by the bank's announcement that it will acquire a 19.99% equity interest in Xiamen City Commercial Bank.

The agency said Fubon Bank (Hong Kong) Ltd.'s adequate financial profile and its status as a strategically important subsidiary will continue to underpin its credit profile.

The parent company's financial profile will not be materially affected by the small size of the deal, at least over the next two to three years, according to S&P.

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