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BULLETIN: Shin Kong Bank Ratings Not Affected By Capital Plan Jul 06
Standard & Poors, July 2006
Abstract
HONG KONG (Standard & Poor's) July 17, 2006--Standard & Poor's Ratings Services said today that its ratings on Taiwan Shin Kong Commercial Bank Co. Ltd. (Shin Kong Bank, BBB/Stable/A-3) would not be immediately affected by a proposed capital injection by its parent company, Shin Kong Financial Holding Co. Ltd. (Shin Kong FHC, BBB/Stable/A-3). Shin Kong FHC, which wholly owns Shin Kong Bank, plans to inject Taiwan dollar (NT$) 8.5 billion into the bank before the end of the third quarter 2006, subject to regulatory approval. The capital injection is intended to support the bank's domestic and overseas growth strategies. The expectation of a degree of group support has already been factored into the issuer counterparty ratings on the bank. Based...
Companies mentioned in this report are: Taiwan Shin Kong Commercial Bank,Shin Kong Financial Holding Co. Ltd.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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