Research Update: Mega International Commercial Bank Co. Ltd. 'A/A-1' Ratings Affirmed On Revised Criteria; Outlook Stable Dec 11
- Language: English
- Published: December 2011
- Region: Global
On Dec. 20, 2005, Standard & Poor's Ratings Services affirmed its ratings on International Commercial Bank of China (ICBC, A/Stable/A-1), Chiao Tung Bank (Chiao Tung, A/Stable/A-1), and Chung Kuo Insurance Co. Ltd. (BBB+/Stable/--), operating subsidiaries of Mega Financial Holding Co. Ltd. (Mega), following an announcement by Mega that it intends to acquire up to 26% of Taiwan Business Bank (TBB) over the next year at a price of no more than Taiwan dollar (NT$) 9 per share. The deal is still subject to the regulator's approval. This transaction is a vital part of the government's stated policy of consolidating the banking sector. If Mega acquires full control of TBB and TBB merges with the banking subsidiaries of the Mega group,...
Companies mentioned in this report are: Mega Financial Holding Co. Ltd.,Chiao Tung Bank,Mega International Commercial Bank Co. Ltd.,Chung Kuo Insurance Co. Ltd.
Action: Outlook: Stable
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
SHOW LESS READ MORE >
Mega Financial Holding Co. Ltd.,Chiao Tung Bank,Mega International Commercial Bank Co. Ltd.,Chung Kuo Insurance Co. Ltd.