Moody's stabilizes Fubon Bank (China) view

Moody's Investors Service said it changed Fubon Bank (China) Co., Ltd.’s outlook to stable from negative. The agency also affirmed the bank’s ratings, including the Baa1 long-term local- and foreign-currency issuer rating.

“The change in outlook to stable from negative and the affirmation of Fubon Bank (China)'s ratings and assessments reflects the fact that economic activities have recovered in China which supported Fubon Bank (China)'s asset quality and profitability. In addition, Fubon Bank (China) has reduced its legacy risky assets,” Moody’s said in a press release.

Moody’s said it also sees the bank's asset quality, capitalization, profitability and liquidity remaining stable over the next 12-18 months.

The rating action also follows the change in outlook to stable from negative of its ultimate parent Fubon Financial Holding Co., Ltd., the agency said.

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