S&P affirms Fubon Financial

Standard & Poor's said it affirmed its BBB+ long-term and A-2 short-term counterparty credit ratings on Fubon Financial Holding Co. Ltd.

The outlook is stable.

At the same time, the agency said it affirmed its A- long-term and A-2 short-term counterparty credit ratings and C+ bank fundamental strength rating on Taipei Fubon Commercial Bank Co. Ltd. and its A long-term counterparty credit and insurer financial strength ratings on Fubon Insurance Co. Ltd.

The outlooks on the long-term ratings are stable.

According to S&P, the ratings on Fubon Financial reflect the group's good market position, balanced business mix, prudent financial management and satisfactory capitalization while these positive factors are partly offset by the moderate profitability of the group's banking operation due to strong competitive conditions.

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