Fitch rates Yuanta Securities debt AA-(twn)

Fitch Ratings said it assigned to Yuanta Securities Co. Ltd. a long-term foreign-currency issuer default rating of BBB+ , short-term foreign-currency issuer default rating of F2, national long-term rating of AA-(twn) and national short-term rating of F1(twn). Yuanta Securities Finance Co., Ltd. was assigned a BBB+ long-term foreign-currency issuer default rating, F2 short-term foreign-currency issuer default rating, AA-(twn) national long-term rating, F1(twn) national short-term rating and AA-(twn) as its senior unsecured debt rating. Yuanta Commercial Bank Co., Ltd. was assigned a BBB long-term foreign-currency issuer default rating at BBB and short-term foreign-currency issuer default rating at F3. Its national long-term rating is affirmed at A+(twn) and national short-term rating at F1(twn).

The outlook is stable.

All three companies are wholly-owned subsidiaries of Yuanta Financial Holding Co., Ltd., which is rated BBB+ with stable outlook.

The ratings reflect its very strong position in Taiwan's securities market, diverse geographic coverage of Asian cash equity markets, limited leverage and sound capitalization and liquidity, Fitch said.

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