Fitch ups IBT Securities view to stable

Fitch Ratings said it affirmed Industrial Bank of Taiwan and its subsidiary, IBT Securities Co., Ltd.'s national long-term rating at BBB+(twn) and national short-term rating at F2(twn).

The outlook was revised to stable from negative.

The outlook change reflects IBT Securities' improved asset quality following a large write-down for its involvement in a defaulted reverse repo transaction in 2008, Fitch said, and the company's reasonable capitalization.

The ratings reflect its adequate asset quality and capitalization, as well as its low profitability and weakness in funding due to its limited access to retail deposits, the agency said.

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