Fitch ups Fuhwa Bank

Fitch Ratings said it upgraded Fuhwa Bank's national long-term rating to A+(twn) from A-(twn), national short-term rating to F1(twn) from F2(twn) and support rating to 2 from 3. The agency also affirmed Fuhwa's individual rating at D.

The outlook remains stable.

The upgrade reflects the stronger support by its sole parent, Fuhwa Financial Holding Co., following its inclusion of Yuanta Core Pacific Securities Co., the agency said.

Fuhwa's individual rating considers its small size, weak profitability and adequate capitalization, Fitch said.

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