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Bulletin: Ratings On E.SUN Commercial Bank Ltd. And E.SUN Financial Holdings Co. Ltd. Unaffected By Planned Acquisition Mar 11

Standard & Poors, March 2011


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Abstract

TAIPEI (Standard & Poor's) March 21, 2011--Standard & Poor's Ratings Services said today that its ratings on E.SUN Commercial Bank Ltd. (E.SUN Bank; BBB/Stable/A-2) and E.SUN Financial Holding Co. Ltd. (BBB-/Stable/A-3) would not be affected by the bank's proposed acquisition of Taiwan-based Chunan Credit Cooperative, given the somewhat small size of the financial institution and its nonperforming loan exposure. We estimate the credit cooperative's total assets at the end of 2010 would account for about 1.7% of E.SUN Bank's total assets. The completion of the acquisition is subject to shareholder and regulatory approval.

Article Type:NEWS,BULLETIN

Companies mentioned in this report are: E.SUN Commercial Bank Ltd.,E.SUN Financial Holding Co. Ltd.

Action: Bulletin

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